Texas Water Development Board closes on a loan for $5,605,000 to the Brazosport Water Authority (Brazoria County) for a brackish groundwater project
For immediate release. Contact: Sarah Haney at 512-463-5129
AUSTIN – (December 3, 2015) – The Texas Water Development Board (TWDB) today closed on a loan providing financial assistance in the amount of $5,605,000 from the State Water Implementation Fund for Texas (SWIFT) program* to the Brazosport Water Authority (Brazos County). The loan is the first closing of a multi-year financing commitment totaling $28,300,000 to finance the planning, design, and construction of a brackish groundwater project.
The Authority could save approximately $708,000 over the life of the loan by using SWIFT.
With the funding disbursed today, the Authority will begin implementing its project that includes construction of three brackish groundwater wells located in the Gulf Coast Aquifer. They will also construct distribution lines and a 6-million-gallon-per-day reverse osmosis water treatment plant. The project will allow the Authority to supplement its surface water production to ensure reliable delivery to its customers when the Brazos River has insufficient flow.
In January 2015, the TWDB approved an amendment, which included this project, to the Region H Regional Water Plan. As a result of the amendment, the project became eligible for SWIFT assistance.
On December 1, 2015, the application period for the 2016 funding cycle of the SWIFT program will open. Entities have until February 5, 2016, to submit a preliminary, two-page application. Applications may be submitted via TWDB’s new online application or by paper-copy.
*The SWIFT program includes two funds, the State Water Implementation Revenue Fund for Texas (SWIRFT) and the State Water Implementation Fund for Texas (SWIFT). Revenue bonds for the program are issued through the SWIRFT.
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.