Treasurer Sprague Announces 2024 OMAP Savings for the City of Kirtland

COLUMBUS – The Ohio Market Access Program (OMAP) administered by Ohio Treasurer Robert Sprague has helped the City of Kirtland (Lake County) enter the market and save an estimated $38,602.50 in interest costs.

“OMAP continues to put Ohio’s high credit rating to work for local communities looking to complete important improvement projects,” said Treasurer Sprague. “We’re proud to continue our partnership with the City of Kirtland and to support the community’s efforts to drive down overall borrowing costs. The city has now leveraged the program nine times in recent years, bringing its total savings to more than $100,000.”

The original note was issued to finance road improvements, vehicle acquisitions, equipment, and roof & HVAC system improvements. The issuance marks the ninth time the city has utilized OMAP to achieve meaningful savings. The previous eight deals saved the city an estimated $62,714.72 in interest expenses.

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 295 deals, ranging from $365,000 to over $100 million. There have been no defaults, and to date, OMAP has generated more than $5.6 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