Texas Water Development Board approves $27,310,000 to the Greater Texoma Utility Authority on behalf of the City of Sherman (Grayson County) for water system improvements
For immediate release. Contact: Sarah Haney at 512-463-5129
AUSTIN – (August 26, 2015) – The Texas Water Development Board (TWDB) today approved by resolution financial assistance in the amount of $27,310,000 from the Drinking Water State Revolving Fund to the Greater Texoma Utility Authority on behalf of the City of Sherman (Grayson County). The Authority will be able to finance the planning, design and construction costs associated with water system improvements.
The Authority could save approximately $3,761,328 over the life of the loan by using the Drinking Water State Revolving Fund.
The City of Sherman will be able to expand its water treatment plant and construct a 1.5 million-gallon storage tank with the assistance approved today. The project will provide additional surface water for Grayson County and allow the City to meet the water needs of the region’s growing population. The project is a recommended water management strategy in the 2012 State Water Plan.
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.