Texas Water Development Board approves $225,675,000 to the North Harris County Regional Water Authority (Harris County) for a water supply 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 $225,675,000 multi-year loans from the State Water Implementation Fund for Texas (SWIFT) program* to the North Harris County Regional Water Authority (Harris County). The assistance approved today is an increase to a 2015 SWIFT commitment that is part of a large regional water supply project for the Houston area.
By using the SWIFT program, the Authority could save approximately $25 million over the life of the 2016 portion of the loan commitments. Additional savings will occur when the Authority closes on the other portions of the loan.
The Authority will use $107,820,000 of the assistance approved today to finance the planning, design, and construction of approximately 12 miles of pipeline, three 12-million-gallon storage tanks, four 25,000-gallon hydropneumatic tanks, and a pump station. The pipeline will distribute treated surface water to numerous municipal utility districts in the Authority’s service area.
The additional $117,855,000 in financial assistance will be used for the planning, design, and construction of approximately 17 miles of pipeline. The pipeline will convey treated surface water from the Northeast Water Purification Plant to the City of Houston, the Authority, and the Central Harris County Regional Water Authority. The pipeline will allow for all three to increase their water supply to their service areas.
*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.