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OWDA Dam Safety Loan Fund
The
Ohio Water Development Authority (OWDA) (www.owda.org opens in new window)
has two loan programs to assist Ohio's dam owners in financing safety-related repairs and
improvements. To qualify for a loan, the owner must work with and receive plan
approval from the Ohio Department of Natural Resources (ODNR) Division of Water
(http://www.dnr.state.oh.us/odnr/water/ opens in new window).
With
ODNR's approval, a publicly owned dam (water/sewer district, municipal, county,
state, conservancy district) may contact OWDA to obtain a loan from OWDA's Dam
Safety Loan Program. The interest rate for loans is reset every quarter.
Privately
owned dams cannot borrow state funds, but they can participate in OWDA's Dam
Safety Link Deposit Loan Program, wherein they can borrow funds from a
commercial lending institution at a reduced interest rate supported by a
certificate of deposit that OWDA would invest in. Institutions participating in
this program will discount loans by 3%, with a floor that is equal to the OWDA
loan rate noted above.
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