Texas Water Development Board approves $5,493,050 in financial assistance to the City of Euless (Tarrant County) for water system improvements
For immediate release. Contact: Kimberly Leggett at 512-463-5129
AUSTIN – (November 6, 2014) – The Texas Water Development Board (TWDB) today approved by resolution financial assistance in the amount of $5,493,050, consisting of a $4,685,000 loan and $808,050 in loan forgiveness from the Drinking Water State Revolving Fund, to the City of Euless (Tarrant County). The assistance will allow the City to finance construction costs associated with water system improvements.
Euless could save approximately $1,636,259 over the life of the loan by using the Drinking Water State Revolving Fund.
With the assistance approved today, the City will be able to replace approximately 14,000 aging water meters with automated meter reading meters. The new water meters will enhance the City’s water efficiency, thus reducing its demand for water and deferring the need for additional raw water supplies. The City has moved quickly to move this project forward and expects to complete it in summer 2015.
The TWDB is the state agency charged with collecting and disseminating water-related data, assisting with regional planning and preparing the state water plan for the development of the state’s water resources. The TWDB administers cost-effective financial assistance programs for the construction of water supply, wastewater treatment, flood control, and agricultural water conservation projects.