WASHINGTON — The City of Altus will receive a $1.1 million grant to make flood-resilient water infrastructure improvements needed to support the transportation needs of the local business community.
The Economic Development Administration grant, to be located in a Tax Cuts and Jobs Act Opportunity Zone, will be matched with $750,000 in state funds.
“This project will provide Altus with a water detention pond that will create an alternate trucking route to make the region’s economy more resilient to natural disasters,” said Secretary of Commerce Wilbur Ross in a press release. “The project’s location in an Opportunity Zone will further transform and grow the region’s economy.”
The project was made possible by the regional planning efforts led by South Western Oklahoma Development Authority.
This project is funded by the Additional Supplemental Appropriations for Disaster Relief Act of 2019, which provided EDA with $600 million in additional Economic Adjustment Assistance (EAA) Program funds for disaster relief and recovery.