Texas Water Development Board approves $167,175,000 to the City of Austin (Travis County) for reclaimed water system improvements and an advanced metering infrastructure project
For immediate release. Contact: Kimberly Leggett at 512-463-5129
AUSTIN – (July 21, 2016) – The Texas Water Development Board (TWDB) today approved by resolution financial assistance in the amount of a $167,175,000 multi-year, low-interest loan—consisting of two loans, one for $86,980,00 and another for $80,195,000—from the State Water Implementation Fund for Texas (SWIFT) program* to the City of Austin (Travis County). The City will use the assistance to finance reclaimed water system improvements and an advanced metering infrastructure project.
By using the SWIFT program, the City could save approximately $2.1 million over the life of the 2016 portion of the loan commitment. Additional savings will occur when the City closes on the other portions of the loan.
The $86,980,000 loan will be used to finance the planning, design, and construction costs associated with reclaimed water system improvements. The project includes improvements at two of the City’s wastewater treatment plants and the construction of a reclaimed water storage tank, pump station, and approximately 74,000 feet of reclaimed water transmission pipeline to multiple parts of the City’s service area.
The $80,195,000 loan will be used to finance an advanced metering infrastructure project. The City’s system-wide meter replacement project includes pilot testing and the installation of 230,000 advanced meters throughout the City. When complete, the project will reduce meter data errors, improve water usage data collection, and provide more accurate, timely, and detailed data.
*The SWIFT program includes two funds, the State Water Implementation Fund for Texas (SWIFT) and the State Water Implementation Revenue Fund for Texas (SWIRFT). Revenue bonds for the program are issued through 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.