The Ohio Environmental Protection Agency is giving Akron a financial break on its massive, ongoing sewer project.
The state agency won’t charge any interest on a $38 million loan for one of the construction projects at the city treatment plant, Akron said Thursday.
The city estimated that it will save $18.7 million over the life of the 45-year loan.
The city usually has to pay anywhere from 2 percent to 3 percent, city Service Director John Moore said.
The application for the Water Pollution Control Loan Fund Nutrient Reduction Discount was competitive, he added.
The overall sewer effort, estimated to cost more than $1 billion, is designed to curb sewage overflows.
The specific project with the zero-interest loan involves increasing the treatment capacity at the plant and thereby reducing overflow into the Cuyahoga River during wet weather.
Mayor Dan Horrigan was in Columbus this week encouraging the state to extend the zero interest to other sewer project loans, Moore said.
The city is looking for ways to save money on the project, “with the goal to reduce the burden on our ratepayers,” Horrigan said in a prepared statement.
Rick Armon can be reached at 330-996-3569 or rarmon@thebeaconjournal.com. Follow him on Twitter at @armonrickABJ.