Cadiz awarded loan for water infrastructure improvement

CADIZ—The Ohio Water Development Authority awarded $2.2 million through low-interest loans to Ohio communities to improve wastewater and drinking water infrastructure and make water quality improvements for Ohioans. For September, the Authority funded six projects that will provide upgrades and replace aging infrastructure.

The six awarded projects received an interest rate ranging from 1.46% to 1.67%. And Cadiz was one of the locations that received a loan from Ohio Water Development Authority’s Fresh Water Loan Program. The village is receiving $104,150.00 at 1.67% for five years for the design of water system improvements, including 4,600 feet of waterline along Grant, Deersville, and Jarvis Streets and U.S. Route 250, replacement of 1,572 water meters, and enhancements to the Edgar Hill and Grant Street storage tanks.

Ohio created the Water Development Authority to provide funding for the construction of public water and wastewater infrastructure throughout the state. Since its creation in 1968, OWDA has pursued borrowing that assures the lowest cost of funds to maintain low borrowing rates for Ohio’s local governments. These low borrowing rates allow local governments to construct necessary water and sewer improvements while minimizing the impact on user charges.