Treasurer Sprague Announces 2025 OMAP Savings for the City of Forest Park

COLUMBUS – The Ohio Market Access Program (OMAP) administered by Ohio Treasurer Robert Sprague has helped the City of Forest Park (Hamilton County) enter the market and save an estimated $71,944 in interest costs.

“The OMAP credit enhancement unlocks lower interest rates for local municipalities so they can make important community improvements at a lower cost,” said Treasurer Sprague. “With this most recent deal, the City of Forest Park will bring their total savings through OMAP to over $353,000 since first partnering with our office in 2017.”

The City of Forest Park’s notes were issued to fund the construction of street improvements, sidewalks, street lighting, traffic signals, enhancements to city parks and recreational facilities, improvements to municipal buildings, stormwater improvements, the acquisition of computer systems, upgrades to the municipal police station, and fire station improvements. This year marks the eighth year the City of Forest Park has utilized OMAP. Prior to this year, OMAP has saved the city an estimated $281,088 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 355 deals, ranging from $365,000 to over $100 million. There have been no defaults, and to date, OMAP has generated more than $7.5 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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