Utility Infrastructure Loans
Payments on these loans are made twice annually - once in January and again in July. The Village makes these loan payments using the revenue received from quarterly utility bills.
Please see the table below for more information about each loan. NOTE: Loan amounts indicated with an asterisk (*) are subject to change based on the final cost of the project. The total loan amount due may be less than the total listed, but not more. Because these final amounts aren't yet known, neither are the annual payment amounts. This page will be updated once more information is available on these loans.
|Loan No.||Project||Total Amount||Interest Rate||First Payment||Annual Payments||Balance as of 12/31/2023||Final Payment|
|OPWC CB08L||Water plant improvements||$727,496||0%||January 2014||$72,750||$36,375||January 2024|
|OWDA 8381||Water distr. system improvements||$152,467||3.09%||January 2021||$7,833||$122,700||July 2050|
|OWDA 8896||Sharon Rd. water main repl.||$2,058,145||1.37%||July 2022||$58,999||$1,922,517||January 2042|
|OPWC CB28R||Wastewater plant repair & replacement||$576,717||0%||July 2016||$28,836||$374,866||July 2036|
|OWDA 6546||Wastewater plant improvements||$283,320||3.74%||January 2015||$20,245||$181,203||July 2034|
|OWDA 4644||Wastewater plant improvements||$6,081,480||2.75%||January 2009||$397,355||$1,844,436||July 2028|
|OWDA 9222||CMOM - Planning loan||$89,600*||0%||July 2022||$18,000||TBD||January 2027|