CANFIELD, Ohio (WKBN) – The City of Canfield was approved for a nearly $1.2 million low-interest loan for storm sewer and retention system work.
The Ohio Water Development Authority (OWDA) awarded the loan to the city with a 3.61% interest rate over 20 years.
The money will be used for the construction of 4,700 feet of storm sewer and a 450,000-gallon underground stormwater detention system near Canfield High School to reduce flooding, the agency reported.
The OWDA was created in 1968 to help cities complete projects with low-cost loans.
The amount of Canfield’s loan is $1,188,898.50.