Texas Water Development Board approves over $1.4 billion for a large regional water supply project for the Houston area
For immediate release. Contact: Sarah Haney at 512-463-5129
AUSTIN – (July 26, 2018) – The Texas Water Development Board (TWDB) today approved by resolution financial assistance in the amount of $1,420,635,000 in low-interest and multi-year loans from the State Water Implementation Fund for Texas (SWIFT) program* to the Central Harris County Regional Water Authority (Harris County), the City of Houston (Harris County), the North Fort Bend Water Authority (Fort Bend County), the North Harris County Regional Water Authority (Harris County), and the West Harris County Regional Water Authority (Harris County) for a large regional water supply project for the Houston area.
By using the SWIFT program, the Authorities and City could save approximately $203 million over the life of the 2018 portion of the loan commitments. Additional savings will occur when the Authorities and City close on the other portions of the loan.
The project includes transferring water from the Trinity River to Lake Houston, expanding the the Northeast Water Purification Plant, and to installing transmission and distribution lines. The Coastal Water Authority is an additional partner on this project.
The TWDB has previously committed more than $3.3 billion to the six project partners for a total of $4.7 billion for this project.
*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.