Texas Water Development Board approves $1,960,215 to the City of Rio Hondo (Cameron County) for water system improvements
For immediate release. Contact: Sarah Haney at 512-463-5129
AUSTIN – (December 14, 2015) – The Texas Water Development Board (TWDB) today approved by resolution financial assistance in the amount of $1,960,215 , consisting of a $300,000 loan and $1,660,215 in loan forgiveness, from the Drinking Water State Revolving Fund to the City of Rio Hondo (Cameron County). The City will be able to finance water system improvements with the assistance approved today.
In addition to the savings from the loan forgiveness, the City could save approximately $51,000 over the life of the loan by using Drinking Water State Revolving Fund.
The City plans to replace manual reading meters with automated meter reading systems and also replace distribution lines. The TWDB previously committed $3,793,916 to the City for water system improvements.
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.