Texas Water Development Board approves $1,235,000 to the Greater Texoma Utility Authority on behalf of the City of Paradise (Wise County) for water system improvements
For immediate release. Contact: Sarah Haney at 512-463-5129
AUSTIN – (May 3, 2018) – The Texas Water Development Board (TWDB) today approved by resolution financial assistance in the amount of $1,235,000, consisting of a $935,000 loan and $300,000 in loan forgiveness, from the Drinking Water State Revolving Fund to the Greater Texoma Utility Authority on behalf of the City of Paradise (Wise County). The Authority will use the assistance to finance the planning, acquisition, design, and construction costs associated with water system improvements.
In addition to the loan forgiveness, the Authority could save approximately $287,000 by using the Drinking Water State Revolving Fund.
With the assistance approved today, the Authority will install approximately 12,860 linear feet of pipeline to serve its residents and businesses currently without City water supply.
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.