Texas Water Development Board approves $213,410,000 to the Hays Caldwell Public Utility Agency (Hays, Caldwell, Guadalupe, Comal, and Bexar counties) for a water supply 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 financial assistance in the amount of $213,410,000, consisting of two multi-year loans—$144,395,000 in low-interest financing and $69,015,000 in Board Participation—from the State Water Implementation Fund for Texas (SWIFT) program* to the Hays Caldwell Public Utility Agency (Hays, Caldwell, Guadalupe, Comal, and Bexar counties). The Agency will use the financial assistance to finance the planning, design, acquisition, and construction costs associated with a water supply project.
By using the SWIFT program, the Agency could save approximately $6 million over the life of $31.9 million loan they will close on this fall. Additional savings will occur when the Agency closes on the other portions of the loan.
The financial assistance will allow the Agency to complete the second phase of a regional water supply project funded by the SWIFT program in 2015. The second phase will develop a wellfield with an initial capacity of 5,500 acre-feet per year and an ultimate capacity of 35,690 acre-feet per year. In addition to the wellfield, the Agency proposes to treat and deliver the groundwater produced by the wellfield to a new water treatment plant.
*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.