Texas Water Development Board approves $403,425 in financial assistance to the City of Olney (Young County) to address drought-related water shortages

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AUSTIN – (February 24, 2014) – The Texas Water Development Board (TWDB) today approved by resolution financial assistance in the amount of $403,425 to the City of Olney (Young County) consisting of a loan in the amount of $285,000 and $118,425 in loan forgiveness from the Clean Water State Revolving Fund. The assistance will help address critical drought-related water shortages.

Because of ongoing drought conditions, the City of Olney is developing additional water supplies for its customers. The city is in stage four drought restrictions and does not currently have an adequate water supply. The funds will be used to plan and design a water reuse project for the city.

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.