FAIRBORN — The city of Fairborn on Wednesday announced plans to join the Ohio Market Access Program (OMAP) to potentially save more than $12,000.

In a tweet by Ohio Treasurer Robert Sprague, the treasurer announced a partnership with Fairborn in the new program designed to help the city lower borrowing costs.

According to the tweet, which was retweeted by the City of Fairborn’s official Twitter page, the partnership will “save an estimated $12,306 in borrowing costs.”

OMAP is a credit enhancement program designed specifically for Ohio schools and local governments. The program was originally launched in 2014 and governments wishing to participate must first submit an application to the treasurer in order to be considered.

Any city, village, school district, county or township may apply for a partnership but must be in good fiscal condition to receive the partnership, which Fairborn has. Governments in a fiscal emergency or considered unauditable by the Ohio Auditor are not eligible for partnership.

Through the OMAP, Sprague has made more than 200 deals and saved an estimated $4.2 million, according to the treasurer’s website. Through the program, S&P Global Ratings has assigned it’s highest short-term notes rating (S&P-1 +) to all notes enhanced with OMAP, utilizing Ohio’s strong liquidity position and high credit rating.

More information on OMAP, including eligibility and applications, visit www.tos.ohio.gov/omap.

Contact Ethan Charles at 937-502-4532.