TWDB Announces SWIFT savings Of $100 million
Texas communities that are participating in the State Water Implementation Fund for Texas (SWIFT) program will save more than $100 million, according to an announcement from the Texas Water Development Board (TWDB).
There are 30 projects from 20 different sponsoring entities – cities, counties, water boards, etc. – included in the first round of SWIFT funding. The total amount of financial assistance provided through SWIFT’s low-interest loan program is about $900 million. The sponsors will be able to save more than $100 million by obtaining financing through the TWDB instead of going out on their own.
“The success of the first round of SWIFT financial assistance can be measured in many ways – the number of applications, the diversity and scope of projects and the number of Texans who will benefit from the new water supply projects,” said TWDB Board Chairman Bech Bruun. “But one of the most important measures is how much money SWIFT is saving the state. When utilities save money, they can pass those savings on to their rate payers.”
The application period for the next round of SWIFT will open Dec. 1 and close Feb. 5, 2016. To be eligible for SWIFT funding, projects must be included in the 2016 Regional Water Plans and the 2017 State Water Plan.
