Treasurer Sprague announces round of summer OMAP savings
The Ohio Market Access Program (OMAP) administered by Ohio Treasurer Robert Sprague has helped three Ohio communities enter the market and save a combined total of $123,231 in interest costs.
“OMAP allows local governments to save on borrowing costs and utilize the state’s high short-term credit rating when funding improvement projects in their communities,” said Treasurer Sprague. “We’re proud to continue our partnerships with the City of Forest Park, the Village of Oakwood, and the Village of Versailles to achieve meaningful savings.”
City of Forest Park (Hamilton County)
The city’s tax-exempt notes were issued to continue to fund street improvements, sidewalks, street lighting, traffic signals, and acquisition of computer systems, as well as improvements to city parks and recreational facilities, municipal buildings, storm water systems, the municipal police station, and fire stations. The city’s taxable notes were issued to continue to fund the acquisition of a city building and real property for economic development. The City of Forest Park has been an OMAP participant since 2017, and in 2025 the city saved over $71,944 in interest costs by utilizing OMAP. The most recent deal will save the city an estimated $107,183 in borrowing costs.
Village of Oakwood (Montgomery County)
The village’s notes were issued to continue to fund building improvements, real estate acquisition, street improvements, and other various purposes. This issuance marks the twelfth time the village has utilized OMAP, and prior to 2026 the village had saved a total of $101,300 in interest expenses. The most recent deal will save the village $10,065 in interest costs.
Village of Versailles (Darke County)
The village’s notes were issued to fund electric system upgrades to the McGreevy Road substation. This issuance marks the first time the village has utilized OMAP to achieve savings since 2019, and prior to 2026 the village had saved a total of $19,661 in interest expenses. The most recent deal will save the village $5,983 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 415 deals, ranging from $365,000 to over $100 million. There have been no defaults, and to date, OMAP has generated more than $8.9 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/.