Bridgeport is developing an asset management plan for the village’s water system with an interest-free loan from Ohio EPA.
The project will assess the reliability of the infrastructure of the water system and help develop best practices to operate the system more efficiently.
Created in 1998, the Water Supply Revolving Loan Account (WSRLA) provides below-market interest rate loans for improvements for community drinking water systems and nonprofit, noncommunity public water systems. Bridgeport is receiving a total of $20,170 in funding. Of this, $10,170 is an interest free loan from Ohio EPA and the remaining $10,000 is in principal forgiveness.
Ohio EPA’s state revolving fund (SRF) loans are provided to communities to build and upgrade wastewater and drinking water infrastructure, upgrade home sewage treatment systems, better manage storm water, address combined sewer overflows and implement other water quality-related projects. Financial assistance helps support planning, design and construction activities and enhances the technical, managerial and financial capacity of these systems. Water Pollution Control Loan Fund loans also make possible the restoration and protection of some of Ohio’s highest quality water bodies through the fund’s Water Resource Restoration Sponsor Program.
Ohio’s SRF loan programs are partially supported by annual federal capitalization grants and have grown substantially over time because of the revolving nature of the loan issuance and payments back into the fund. The SRF programs are managed by Ohio EPA’s Division of Environmental and Financial Assistance, with assistance from the Ohio Water Development Authority. Ohio EPA is responsible for program development and implementation, individual project coordination, and environmental and other technical reviews/approvals of projects seeking funds. The Ohio Water Development Authority provides financial management of the SRF funds.
More information about the SRF loan program is available at: epa.ohio.gov/defa/EnvironmentalandFinancialAssistance.aspx.