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Texas Water Development Board approves $250,000,000 in financial assistance to the Lower Colorado River Authority for an off-channel reservoir

For immediate release. Contact: Lauren Munguia at 512-463-2322

AUSTIN  (September 4, 2014)  The Texas Water Development Board (TWDB) today approved by resolution a loan in the amount of $250,000,000 from the Texas Water Development Fund to the Lower Colorado River Authority (LCRA). The assistance will allow LCRA to finance the planning, acquisition, design, and construction of an off-channel reservoir in Wharton County.

The LCRA project includes constructing a 40,000 acre-foot off-channel reservoir, a new river outfall, and other associated infrastructure. The project will help increase LCRA's overall system firm yield from 600,000 acre-feet to 690,000 acre-feet per year. The new off-channel reservoir will enhance LCRA's ability to meet the water demands throughout the lower Colorado River basin.

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.