Texas Water Development Board approves $50,000,000 to the El Paso Water Utilities Public Service Board (El Paso County) for a land acquisition project
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 $50,000,000 from the State Water Implementation Fund for Texas (SWIFT) to the El Paso Water Utilities Public Service Board (El Paso County). The Utility will finance land and water rights acquisitions with the assistance approved today.
The Utility could save approximately $6,033,664 over the life of the loan by using SWIFT.
The Utility plans to secure land and groundwater resources in the Bone Spring-Victorio Peak Aquifer with the assistance approved today. The project will provide a supplementary water source for the growing community.
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.