Mahoning CountyTuesday, November 3
Mineral Ridge Dam will get $29 million in state loans for safety upgrades
The Daily Youngstown team
If you get your water from the Mahoning Valley Sanitary District, this one's for you. The district will receive three 20-year, low-interest loans totaling $29 million for upgrades to the Mineral Ridge Dam. They're part of more than $42.3 million in loans the Ohio Water Development Authority approved for seven projects statewide.
“This is a class one structure…basically, what that means if this was to fail, there would be significant structural damage probable loss of life, so with this project it would bring us up to meet those current design standards.”
Verner says the work includes updating wingwalls, replacing two auxiliary spillways with a new one and reinforcing the primary spillway. The project's total cost is expected to reach $83 million.
- Loan length: 20 years each
- Rate increases cover the $16 million: Youngstown, Niles and McDonald customers
- Water supply protected: Mahoning and Trumbull counties
The three loans carry rates from 3.72% to 4.72%
| Loan | Amount | Interest rate |
|---|---|---|
| First | $15 million | 3.72% |
| Second | $10 million | 4.13% |
| Third | $4 million | 4.72% |
Source: WFMJ
Sources: WYTV, WKBN.com, Business Journal Daily, WFMJ