The Texas Water Development Board (TWDB) approved by resolution financial assistance to the City of Everman in the amount of $3 million Nov. 21.
The assistance consists of a $2,700,000 loan and $300,000 in loan forgiveness from the Drinking Water State Revolving Fund.
TWDB said in a news release that Everman will use the assistance to finance design and construction costs associated with water system improvements.
In addition to the loan forgiveness, the city could save approximately $325,460 over the life of the loan by using the Drinking Water State Revolving Fund, the release said.
Everman will use the money to replace aging water lines, which will improve service and reduce water loss.
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, the news release said.