Treasurer Sprague Announces OMAP Savings for the City of Fairborn in 2025

COLUMBUS – The Ohio Market Access Program (OMAP) administered by Ohio Treasurer Robert Sprague has helped the City of Fairborn (Greene County) enter the market and save an estimated $3,510 in interest costs.

“Through OMAP, Ohio’s local governments are leveraging the state’s strong credit rating to obtain more competitive interest rates when financing important improvements for their communities,” said Treasurer Sprague. “We’re proud to continue our partnership with the City of Fairborn and help them save thousands of dollars on borrowing costs.”

Fairborn’s notes were issued to fund improvements to the city’s public roadway system as well as its parks and recreation facilities. This issuance marks the sixth time the City of Fairborn has utilized OMAP, and the previous five deals saved the city an estimated $51,656 in interest expenses.

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 375 deals, ranging from $365,000 to over $100 million. There have been no defaults, and to date, OMAP has generated more than $7.8 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/.

 ###