Texas Water Development Board approves $12,180,000 to the City of Keller (Tarrant County) for water system improvements
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 $12,180,000 multi-year loan from the State Water Implementation Fund for Texas (SWIFT) program* to the City of Keller (Tarrant County). The City will use the assistance to finance design and construction costs associated with water system improvements to reduce water loss.
By using the SWIFT program, the City could save approximately $426,000 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.
With the assistance approved today, the City will replace approximately 62,000 linear feet of water mains, which are responsible for most of the City’s water loss, and approximately 1,600 water service connections. The project is part of the City’s Enhanced Water Loss Control and Conservation Program outlined in the Region C section of the 2017 State Water Plan.
*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.