Treasurer Sprague Announces 2025 OMAP Savings for the City of Wyoming

Treasurer Sprague Announces 2025 OMAP Savings for the City of Wyoming

COLUMBUS - The Ohio Market Access Program (OMAP) administered by Ohio Treasurer Robert Sprague has helped the City of Wyoming (Hamilton County) enter the market and save an estimated $29,917 in interest costs.

"The OMAP credit enhancement unlocks lower interest rates for local municipalities so they can make important community improvements at a reduced cost," said Treasurer Sprague. "We're proud to continue our partnership with the City of Wyoming and help them save more than $29,000 on borrowing costs."

Wyoming's notes were issued to fund the replacement of three separate water mains and to make a series of road and curb improvements throughout the city. This issuance marks the third time the City of Wyoming has utilized OMAP, and the previous two deals saved the city an estimated $14,671 in interest expenses. The most recent deal will save the city an estimated $29,917 in interest costs.

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 $7.9 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/.

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