The Claremore Public Works Authority Receives $10,000,000 Infrastructure Loan with $1,000,000 in Principal Forgiveness from the OWRB
View allOKLAHOMA CITY – The Claremore Public Works Authority (Authority) received approval for a $10,000,000 loan with $1,000,000 in principal forgiveness on Tuesday from the Oklahoma Water Resources Board (OWRB) to improve the Authority’s water and electric infrastructure. Construction of upgrades and improvements to the systems will be financed by the Oklahoma Clean Water State Revolving Fund (CWSRF).
The Authority’s water and electrical infrastructure include aging meters that have come to the end of their useful life. This project will replace approximately 8,204 existing water meters and 12,974 electric meters with new cellular-based meters, as well as upgrading the transmitters to approximately 41 existing large-diameter water meters.
Updating the metering systems can improve efficiency of the utility, as well as the water quality in the surrounding waterbodies. Automated meter reading can reduce the time operators spend reading meters, allowing staff to focus on critical maintenance, repairs, and other system needs. The updated water metering system allows for quicker detection of leaks and other sources of water loss, thereby reducing the amount of treatment at the wastewater treatment plant resulting in a reduced amount of effluent being released into the Verdigris River. The installation of new electric meters supports more efficient use of natural gas and improves the management of gas production and exploration, reducing the impacts to waterbodies in the area impaired by salts, nutrients, sediments and other pollutant loading.
Funding for this project through the CWSRF is eligible due to the program’s ability to provide funding for projects that support water efficiency, energy efficiency, nonpoint source pollution, and environmentally innovative strategies.
Lori Johnson, chief of the OWRB’s Financial Assistance Division, calculated that the Authority’s customers will save an estimated $4,037,100 when compared to traditional financing. The CWSRF loan will be secured with a lien on the revenues of the Authority’s water, sewer and electric systems.