Texas Water Development Board approves $3,525,000 in financial assistance to the City of Pharr (Hidalgo County) for purchasing surface water rights
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 $3,525,000, consisting of a $1,762,500 loan and a $1,762,500 grant from the Economically Distressed Areas Program, to the City of Pharr (Hidalgo County). The assistance will allow the City to purchase additional surface water rights.
The City could save approximately $3,042,000 over the life of the loan by using the Economically Distressed Areas Program.
The 2011 Region M Water Plan and 2012 State Water Plan recommend that the City of Pharr purchase additional water rights as a water management strategy. With the assistance approved today, Pharr will be able to purchase 1,500 acre-feet of surface water rights to help address the City’s needs.
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.