Texas Water Development Board closes loans for $440 million to the Tarrant Regional Water District (Jack, Wise, Parker, Tarrant, Johnson, Ellis, Navarro, Henderson, Kaufman, Freestone, Denton, Dallas, Collin, and Rockwall counties) for a water supply project
For immediate release. Contact: Sarah Haney at 512-463-5129
AUSTIN – (December 8, 2015) – The Texas Water Development Board (TWDB) today closed on loans providing financial assistance in the amount of $440 million from the State Water Implementation Fund for Texas (SWIFT) program* to the Tarrant Regional Water District [TRWD] (Jack, Wise, Parker, Tarrant, Johnson, Ellis, Navarro, Henderson, Kaufman, Freestone, Denton, Dallas, Collin, and Rockwall counties). TRWD will use the financing for the acquisition, design, and construction of a water supply project.
TRWD could save approximately $58 million over the life of the loans by using SWIFT.
TRWD and Dallas Water Utilities (DWU) have been working for several years on an integrated water project known as the Integrated Pipeline Project (IPL). The IPL will allow the two water providers to meet growing water demands through a joint regional approach. The assistance provided today will allow TRWD and DWU to complete segments of the IPL. When the IPL is complete, it is estimated to provide an additional 350 million gallons per day to the two providers.
On December 1, 2015, the application period for the 2016 funding cycle of the SWIFT program opened. 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.