TWDB approves $759,255,000 in SWIFT financial assistance
For immediate release. Contact: Kimberly Leggett at 512-463-5129
AUSTIN – (July 21, 2016) – Today, the Texas Water Development Board (TWDB) approved $759,255,000 in financial assistance from the State Water Implementation Fund for Texas (SWIFT) program*. The SWIFT financing will be distributed to 15 state water plan projects across the state.
“The continued high demand in this second year of SWIFT demonstrates the program is effectively implementing projects in the state water plan,” said TWDB Board Chairman Bech Bruun. “The projects financed today help ensure that Texans will have a secure and reliable water supply for decades to come.”
The 15 projects, all recommended in the 2017 State Water Plan, include aquifer storage and recovery, an off-channel storage facility, water meter replacements, transmission pipelines, capacity expansions, well fields, reclaimed water, and land and water rights acquisition. Five of the projects were for conservation and reuse, and one is for agriculture.
“The Board was pleased to see projects of all scopes and sizes represented in the SWIFT applications,” said TWDB Board member Kathleen Jackson. “The projects range from those using innovative technology to develop new water supplies to those that help conserve the water supplies we already have available.”
SWIFT was established by the Texas Legislature and voters in 2013 to fund projects in the state water plan. SWIFT was created through the transfer of a one-time, $2 billion appropriation from the state’s Rainy Day Fund. The $2 billion will be leveraged with revenue bonds over the next 50 years to finance approximately $27 billion in water supply projects. The first cycle of SWIFT program financing was completed in 2015.
“The combination of 2015 and 2016 SWIFT program commitments brings the two-year total to $4.6 billion in financial assistance. While this is a fantastic start, the Board will continue to actively manage the SWIFT program to ensure it fulfills its long-term goal of providing water for all Texans,” said TWDB Board member Peter Lake.
Projects selected today for 2016 SWIFT financial assistance are the following:
- $12 million to the City of Waco (McLennan County) for a meter replacement project
- $18 million to the City of Bryan (Brazos County) for an aquifer storage and recovery project
- $150 million to the El Paso Water Utilities Public Service Board (El Paso County) on behalf of the City of El Paso for land and water rights acquisition for a water supply project
- $12,180,000 to the City of Keller (Tarrant County) for water system improvements to reduce water loss
- $4,635,000 to the Trophy Club Municipal Utility District No. 1 (Denton and Tarrant counties) for a transmission pipeline
- $167,175,000 to the City of Austin (Travis County) for reclaimed water system improvements and an advanced metering infrastructure project
- $66.5 million to the Schertz/Seguin Local Government Corporation (Bexar, Comal, and Guadalupe counties) for a new well field and transmission pipeline
- $225,675,000 to the North Harris County Regional Water Authority (Harris County) for new pipelines and storage tanks
- $15,490,000 to the Central Harris County Regional Water Authority (Harris County) for a water system expansion project and new transmission pipeline
- $4.5 million to the City of Beeville (Bee County) for a new well field
- $75 million to the Sabine River Authority (Orange and Newton counties) for a new pump station and pipeline
- $8.1 million to the United Irrigation District (Hidalgo County) for an off-channel storage facility
The TWDB anticipates closing loans for projects approved for SWIFT financing in fall 2016.
*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.