Treasurer Sprague Announces 2024 OMAP Savings for the Village of Grafton

COLUMBUS – The Ohio Market Access Program (OMAP) administered by Ohio Treasurer Robert Sprague has helped the Village of Grafton (Lorain County) enter the market and save an estimated $30,177.10 in interest costs.

“Through OMAP, we’re putting Ohio’s balance sheet to work for our local governments,” said Treasurer Sprague. “Communities across the state are always looking to make important improvements and updates, but such projects can be costly. With this deal, we’ve helped the Village of Grafton to lower borrowing costs and bolster savings as they upgrade critical infrastructure.”

The original note was issued to finance upgrades to the village’s main electrical substation. Through this issuance, the village has now utilized OMAP four times to achieve savings. The previous three deals saved the village an estimated $105,062.26 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