Texas Water Development Board approves $499,860,000 to the North Texas Municipal Water District for the construction of the Lower Bois d’Arc Creek Reservoir
For immediate release. Contact: Kimberly Leggett at 512-463-5129
AUSTIN – (February 15, 2018) – The Texas Water Development Board (TWDB) today approved by resolution financial assistance in the amount of $499,860,000 from the State Water Implementation Fund for Texas (SWIFT) program* to the North Texas Municipal Water District (Collin, Dallas, Denton, Ellis, Fannin, Hunt, Kaufman, Rains, and Rockwall counties). The District will use the assistance to finance the construction of the Lower Bois d’Arc Creek Reservoir.
“The TWDB is proud to be part of this major water supply project that will serve approximately 1.7 million Texans,” said TWDB Board member Kathleen Jackson. “The reservoir is critical to meeting the water needs of several North Texas cities and a large number of rural communities in the region.”
The commitment today is the second portion of an application received from the District during the third funding cycle of the SWIFT program. In July 2017, the TWDB committed $677,120,000 for the first phase of this project.
“The TWDB’s total $1.1 billion commitment to the Lower Bois d’Arc Reservoir demonstrates the SWIFT program’s ability to turn state water plan projects into a reality,” said TWDB Board member Peter Lake. “Conceived at the local level, approved by the regional planning group, and formally adopted in the state water plan, this reservoir has broad support and will be an essential water source for decades to come.”
By using the SWIFT program, the District could save approximately $151 million over the life of the more than $1 billion in financial assistance
The District will also construct a new 70-million-gallon-per-day water treatment plant with the assistance approved today. The plant will serve users in Collin, Dallas, Denton, Ellis, Fannin, Hunt, Kaufman, Rains, and Rockwall counties.
*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.