Treasurer Sprague Announces Most Recent Round of 2025 OMAP Savings

COLUMBUS – The Ohio Market Access Program (OMAP) administered by Ohio Treasurer Robert Sprague has helped two Ohio communities enter the market and save a combined total of $20,774 in interest costs.  

“In this challenging interest rate environment, OMAP provides local governments with a leg up as they leverage the state’s high credit rating to lower borrowing costs,” said Treasurer Sprague. “This week we’re proud to welcome one new partner and one returning partner to the expanding list of OMAP participants who are achieving savings as they make important improvements to their communities.”

City of Lancaster (Fairfield County)

Lancaster’s notes were issued to fund the renovation and rehabilitation of the City Hall building. This deal marks the first year that the City of Lancaster has participated in OMAP. This deal will save the city an estimated $12,764 in interest costs.

Village of Oakwood (Cuyahoga County)

The Village of Oakwood’s notes were issued to fund building improvements, real estate acquisition, street improvements, and other various purposes. This year marks the eleventh year the Village of Oakwood has utilized OMAP. Prior to this year, OMAP has saved the village an estimated $93,710 in interest expenses. This latest deal will save the village an estimated $8,010 in interest costs, bringing their total savings to more than $100,000.

OMAP is a credit enhancement program that leverages the state’s excess liquidity and high short-term credit rating to help improve market access and lower borrowing rates for local governments. Since its 2014 launch, OMAP has supported more than 360 deals, ranging from $365,000 to over $100 million. There have been no defaults, and to date, OMAP has generated more than $7.6 million in estimated savings for local governments.

Any government subdivision in good fiscal standing, including cities, villages, school districts, counties, townships, and special districts, issuing short-term debt is eligible to participate. For more information, visit https://omap.ohio.gov/.

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