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Council committee approves bond code change to enable OWDA refinancing; sewer contracts and capital projects authorized

Finance, Diversity, Equity and Inclusion Committee of the Cleveland City Council · October 28, 2025
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Summary

Committee approved amendments to allow participation in an OWDA refinancing projected to save about $4.3 million over 20 years, and authorized standard as‑needed and capital sewer replacement contracts and projects funded primarily with bond proceeds.

The committee approved amendments to the water pollution control (WPC) bond ordinance and a companion ordinance authorizing the city to apply to the Ohio Water Development Authority (OWDA) for refinancing of WPC revenue bonds (ordinances 1210‑2025 and 1211‑2025). City staff said the refinancing opportunity could produce approximately $4.3 million in savings over 20 years and that the total interest cost on the…

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