Texas Water Development Board approves $15,490,000 to the Central Harris County Regional Water Authority (Harris County) for a water system expansion 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 $15,490,000 multi-year loans from the State Water Implementation Fund for Texas (SWIFT) program* to the Central Harris County Regional Water Authority (Harris County). The Authority will be able to finance planning, acquisition, design, and construction costs associated with a water system expansion project.
By using the SWIFT program, the Authority could save approximately $1.2 million over the life of the 2016 portion of the loan commitment. Additional savings will occur when the Authority closes on the other portions of the loan.
The Authority will use $12,585,000 of the assistance approved today to finance the expansion of its internal water distribution system. The expansion will allow the Authority to provide treated surface water to the Fallbrook Municipal Utility District, Harris County Utility District 16, Harris County Municipal Utility District 33, Harris County Municipal Utility District 215, and Harris County Municipal Utility District 304. The project is outlined in the Authority’s Groundwater Reduction Plan.
The TWDB also approved an increase of $2,905,000 to a 2015 SWIFT commitment to the Authority. The increase will allow the Authority to finance the planning, design, and construction of a shared 17-mile transmission pipeline. The pipeline will convey treated surface water from the Northeast Water Purification Plant to the City of Houston, the Authority, and the North Harris County Regional Water Authority. This is part of a large regional water supply project for the Houston area.
*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.