Waldport receives loan forgiveness

December 1st, 2021

Waldport receives loan forgiveness  

Business Oregon notified the City of Waldport on November 30th, that it had met the conditions of its waterline relocation project along the McKinley Slough bridge, and as such qualified to have the remaining $372,900 of the project loan forgiven. The $525,000 waterline project was completed in 2019.  

“The City is grateful to Business Oregon, ODOT and the State for the financial assistance to Waldport with this important waterline work brought upon by the slough bridge replacement” said Greg Holland, Mayor. 

The waterline move was necessitated by an ODOT bridge project, which forced an unplanned relocation of a city waterline along Highway 34. The work was completed over  two years ago, but the COVID pandemic and changing of staff at the City resulted in additional time to complete the final paperwork and processing. 

“An unexpected expense for the city, the City Council at the time argued strenuously for assistance, and Business Oregon really came through.” Said Dann Cutter, City Manager. 

The support from Business Oregon in the form of a partially forgivable loan meant the City avoided an additional nearly 5% increase in water rates to timely pay the full $525,000. Additional savings over the last year allowed the City to pay off the remaining loan amount, as authorized by the City Council in October 2021. 

For additional information contact the City at 541-563-3561 or email [email protected]