Treasurer Sprague Announces 2025 OMAP Savings for the City of Springfield

COLUMBUS – The Ohio Market Access Program (OMAP) administered by Ohio Treasurer Robert Sprague has helped the City of Springfield (Clark County) enter the market and save an estimated $15,720 in interest costs.

“In Ohio, OMAP plays an essential role in assisting our local governments to achieve savings when financing significant improvement projects,” said Treasurer Sprague. “With this latest deal, the City of Springfield will bring their total savings through OMAP to over $155,000 since first partnering with our office in 2016.”

The city’s notes were issued to finance municipal sewer and water system upgrades. This deal marks the eighth time the City of Springfield has leveraged OMAP, and the previous seven deals saved the city an estimated $139,997 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 345 deals, ranging from $365,000 to over $100 million. There have been no defaults, and to date, OMAP has generated more than $7.4 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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