Texas Water Development Board approves $90,000,000 to the City of Bedford (Tarrant County) for water system and water meter improvements
For immediate release. Contact: Sarah Haney at 512-463-5129
AUSTIN – (July 23, 2015) – The Texas Water Development Board (TWDB) today approved by resolution financial assistance in the amount of $90,000,000 from the State Water Implementation Fund for Texas (SWIFT) to the City of Bedford (Tarrant County). The City will be able to finance the construction costs associated with water system and water meter improvements.
The City could save approximately $4,008,938 over the life of the loan by using SWIFT.
The City plans to replace 90 percent of water piping in its water distribution system with the assistance approved today. The City will also replace 15,000 water meters with automatic meter readers. The improvements by the City are a conservation project and will save an estimated 2,716 acre-feet of water per year.
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.