Texas Water Development Board approves $2,750,000 to the City of Corpus Christi (Nueces County) for a seawater desalination project
For immediate release. Contact: Kimberly Leggett at 512-463-5129
AUSTIN – (July 20, 2017) – The Texas Water Development Board (TWDB) today approved by resolution $2,750,000 in financial assistance in the amount of a $2,750,000 deferred financing loan from the State Water Implementation Fund for Texas (SWIFT) program* to the City of Corpus Christi (Nueces County). The City will use the assistance to finance the planning costs associated with a seawater desalination project.
The City could save approximately $458,000 over the life of the loan by using the SWIFT program.
The assistance approved today will allow the City to continue the development of a seawater desalination project by conducting planning tasks such as plant site selection, source water characterization, and economic impact and cost modeling.
*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.