Texas Water Development Board approves $7,778,400 to the River Acres Water Supply Corporation (Nueces County) for water system improvements
For immediate release. Contact: Kimberly Leggett at 512-463-5129
AUSTIN – (March 21, 2018) – The Texas Water Development Board (TWDB) today approved by resolution financial assistance in the amount of $7,778,400, consisting of a $7,155,000 loan and $623,400 in loan forgiveness, from the Drinking Water State Revolving Fund to the River Acres Water Supply Corporation (Nueces County). The Corporation will use the assistance to finance construction costs for water system improvements.
In addition to the loan forgiveness, the Corporation could save approximately $931,000 by using the Drinking Water State Revolving Fund.
Water system improvements include replacing water lines, valves, and water meters. The Corporation will also install automated meter systems.
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.