Good financial news comes from Fairborn as the city finds some fiscal relief in its latest infrastructure endeavors—the Ohio Market Access Program (OMAP) has facilitated a substantial saving for them, according to an official announcement made by Ohio Treasurer Robert Sprague.
The program, which is designed to alleviate local governments' borrowing costs by capitalizing on the state's sterling credit rating, has escorted Fairborn in its quest to upgrade its police buildings and water system improvements, including new water lines and the replacement of both the Mad River Wellfield Wells and the municipal court building roof and this is not the city's first rodeo with OMAP—it's actually the fifth time they've leaned on the program, which has previously netted them around $30,705 in interest savings over the years.
In a statement obtained by the Ohio Treasurer's Office newsroom, Sprague outlined the scope and intent of OMAP, saying, "OMAP is designed to help lower borrowing costs for local governments by using the state’s high credit rating to improve market access," and he expressed his pride in continuing "our partnership with the City of Fairborn and to help them save thousands of dollars on borrowing costs."
The credit enhancement program has supported a remarkable range of over 340 deals since its inception in 2014, accommodating financial ventures from as modest as $365,000 to the more monumental sums exceeding $100 million. It's a testament to the program's efficacy that it boasts zero defaults and a whopping $6.8 million in total estimated savings for local governments in Ohio, in addition to the recent savings of an estimated $20,950 for Fairborn in its latest transaction astronauts might dream of such fiscal orbits. Still, Fairborn's feet are planted on solid fiscal ground thanks to OMAP. Information about program eligibility—which includes cities, villages, school districts, counties, townships, and special districts—is available on the OMAP website for any government subdivision looking to up their financial game.
