Treasurer Sprague Announces OMAP Savings for the City of Fairborn

COLUMBUS – The Ohio Market Access Program (OMAP) administered by Ohio Treasurer Robert Sprague has helped the City of Fairborn (Greene County) enter the market and save an estimated $3,760.50 in interest costs over the next year.

“Through OMAP, Ohio’s local governments are leveraging the state’s strong credit rating to obtain more competitive interest rates when financing important improvements for their communities,” said Treasurer Sprague. “Amid this current high rate environment, we’re proud to continue our partnership with the City of Fairborn by helping them drive down costs and achieve real savings on important projects.”

The OMAP credit enhancement will help the City of Fairborn to achieve meaningful savings on interest costs. The original note was issued for road improvements, and to acquire real estate to develop a community gathering space. The new money portion of the notes will be used to construct and repair sidewalks, curbs, and driveway approaches. This issuance is the second time that the city has utilized OMAP to achieve savings. The previous deal saved the city an estimated $12,306.19 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 280 deals, ranging from $365,000 to over $100 million. There have been no defaults, and to date, OMAP has generated more than $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