Texas Water Development Board approves $300 million to the North Texas Municipal Water District for a water supply project
For immediate release. Contact: Kimberly Leggett at 512-463-5129
AUSTIN – (July 26, 2018) – The Texas Water Development Board (TWDB) today approved a $300 million low-interest loan 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) for a water supply project.
The City could save approximately $41.3 million over the life of the loan by using the SWIFT program.
The assistance approved today will supplement the $1.2 billion previously committed from the SWIFT program for this project. The project includes the construction of a reservoir, a 70 million-gallon-per-day water treatment plant, and water transmission lines. The project will allow the District to develop an additional water supply for the fast-growing region.
*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.