Treasurer Sprague Announces 2025 OMAP Savings for the Village of Granville

Treasurer Sprague Announces 2025 OMAP Savings for the Village of Granville

COLUMBUS - The Ohio Market Access Program (OMAP) administered by Ohio Treasurer Robert Sprague has helped the Village of Granville (Licking County) enter the market and save an estimated $4,473 in interest costs.

"OMAP allows local governments to benefit from strengthened credit quality, lower costs of borrowing, and improved marketability," said Treasurer Sprague. "The Village of Granville continues to successfully utilize the program, and we're proud to support their ongoing efforts through this initiative."

The Village of Granville utilized OMAP to execute a recent deal, issuing a tax-exempt note to retire outstanding notes. The original notes were issued to finance the construction of a service center. This issuance marks the sixth time the Village of Granville has utilized OMAP, and the previous five deals saved the village an estimated $54,810 in interest expenses. The most recent deal will save the village an estimated $4,473 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 $7.8 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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