Carroll County, Malvern receive $3.3 million in refinancing
The Ohio Water Development Authority recently awarded $77.8 million through the Fresh Water Refinance Loan Program, which provides financial assistance for the refinancing of debt for drinking water, wastewater, and storm water projects. For 2021 to date, the Authority has refinanced 42 projects. The 42 projects received an average interest rate reduction of 3.36 percent.
Carroll County refinanced a USDA-RD loan for $305,290.71 with an interest rate of 0.84%, which is a reduction of 3.66% from the original interest rate of 4.50%. The loan funds construction of waste water treatment plant improvements including expansion of the facility from 0.350 MGD to 0.800 MGD and extension of sewer lines to Lake Mohawk.
Carroll County refinanced a USDA-RD loan for $1,984,283.07 with an interest rate of 1.35%, which is a reduction of 3.15% from the original interest rate of 4.50%. The loan funds the construction of waste water treatment plant 2 improvements including expansion of the facility from 0.350 MGD to 0.800 MGD and extension of sewer lines to Lake Mohawk.
The Village of Malvern in Carroll County refinanced a USDA-RD loan for $1,020,683.31 with an interest rate of 1.31%, which is a reduction of 3.19% from the original interest rate of 4.50%. The loan funds the construction of a 500,000 gallon elevated water storage tank and replacement of associated waterlines.
This article originally appeared on The Alliance Review: Carroll County, Malvern receive $3.3 million in refinancing
