AUSTIN –The Texas Water Development Board (TWDB) announced Sept. 28 the projected savings of an estimated $198 million for Texas communities participating in the 2017 funding cycle of the State Water Implementation Fund for Texas (SWIFT) program.
That was tied with an announcement that the agency had sold bonds to provide approximately $1.2 billion in state water plan funding for 23 project sponsors.
“Texas water utilities have saved approximately $400 million in the first three years of the SWIFT program,” TWDB Chairman Bech Bruun said in a news release. “These savings are not only important for the project sponsors, but also for the water utilities’ customers. By saving millions of dollars through the SWIFT program, the utilities can pass on savings to their rate payers.”
SWIFT was established by the Texas Legislature and voters in 2013 to fund projects in the state water plan. The application period for the fourth round of the SWIFT program will open later this year. To be eligible for the upcoming round of SWIFT, projects must be included in the 2017 State Water Plan.
“The SWIFT program’s low-cost funding incentivizes Texas communities to prepare for the next drought by participating in creating the state water plan,” said TWDB Board member Peter Lake. “The fact that we have committed $5.6 billion in just the first three years of the program demonstrates that Texas is already developing the water infrastructure it knows it will need in the future.”
For more information on the SWIFT program: goo.gl/5is5jQ