Treasurer Sprague Announces OMAP Savings in 2026 for the City of Centerville

Treasurer Sprague Announces OMAP Savings in 2026 for the City of Centerville

COLUMBUS - The Ohio Market Access Program (OMAP) administered by Ohio Treasurer Robert Sprague has helped the City of Centerville (Montgomery County) enter the market and save an estimated $3,789 in interest costs.

"Lower borrowing costs and improved marketability are just a few benefits local governments can capitalize on when participating in OMAP to fund improvement projects in their communities," said Treasurer Sprague. "We're proud to continue our partnership with the City of Centerville and help them save over $26,000 in interest expenses."

The city's notes were issued to continue to fund park improvements to Benham's Grove and the construction of an event center. This issuance marks the second time the City of Centerville has utilized OMAP, and the previous deal saved the city an estimated $22,737 in borrowing costs. The most recent deal will save the city an estimated $3,789 in interest costs.

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 400 deals, ranging from $365,000 to over $100 million. There have been no defaults, and to date, OMAP has generated more than $8.5 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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