Texas Water Development Board approves $66.5 million to the Schertz/Seguin Local Government Corporation (Bexar, Comal, and Guadalupe counties) 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 $66.5 million, consisting of a $43,670,000 low-interest loan and $22,830,00 in Board Participation, from the State Water Implementation Fund for Texas (SWIFT) program* to the Schertz/Seguin Local Government Corporation (Bexar, Comal, and Guadalupe counties). The Corporation will use the assistance to finance the planning, acquisition, design, and construction costs associated with a water supply project.
The Corporation could save approximately $5.6 million over the life of the low-interest loan by using the SWIFT program.
The Corporation will use the assistance approved today to develop a new well field in Southeast Guadalupe County, allowing access to the Wilcox and Carrizo aquifers. The project will include the construction of a water treatment facility, storage and booster pump facilities, and a transmission pipeline to deliver the treated groundwater into the distribution system. The well field will generate approximately 6,500 acre-feet per year, allowing the Corporation to supply projected customer demand through 2050.
*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.