Treasurer Sprague Announces OMAP Savings for the Springfield Clark Career Center

COLUMBUS – The Ohio Market Access Program (OMAP) administered by Ohio Treasurer Robert Sprague has helped the Springfield Clark Career Center (Clark County) enter the market and save an estimated $22,438 in interest costs. This issuance marks the first time the career center has utilized OMAP to achieve savings.

“Through OMAP, local governments can leverage the strength of Ohio’s balance sheet to lower borrowing costs when financing community projects,” said Treasurer Sprague. “We’re proud to welcome the Springfield Clark Career Center as our newest OMAP partner, and we’re honored to back their efforts to make important upgrades while also achieving more than $22,000 in total savings.”

The Springfield Clark Career Center's notes were issued to finance various school building improvement projects including the construction of a new career-technology school building.

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 335 deals, ranging from $365,000 to over $100 million. There have been no defaults, and to date, OMAP has generated more than $6.7 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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