Texas Water Development Board closes on a loan for $42,000,000 to the Canyon Regional Water Authority (Guadalupe, Bexar, Caldwell, Comal, Hays, and Wilson counties) for a water supply project

For immediate release. Contact: Media Relations at 512-463-5129

AUSTIN – (December 10, 2015) –-The Texas Water Development Board (TWDB) today closed on a loan providing financial assistance in the amount of $42 million from the State Water Implementation Fund for Texas (SWIFT) program* to the Canyon Regional Water Authority (Guadalupe, Bexar, Caldwell, Comal, Hays, and Wilson counties). The Authority will use the financing for the design and construction phases associated with a water supply project.

By using the SWIFT program, the Authority could save approximately $5.6 million over the life of the loan.

With the assistance provided today, the Authority will be able to increase its water supply by expanding its groundwater well field and water treatment plant capacity, constructing storage tanks, and installing additional water transmission pipelines. The project will allow the Authority to meet the increasing water demands of the region and when complete, the Authority will have a total production capacity of approximately 13,000 acre-feet per year.

On December 1, 2015, the application period for the 2016 funding cycle of the SWIFT program opened. Entities have until February 5, 2016, to submit a preliminary, two-page application. Applications may be submitted via TWDB's new online application or by paper-copy.

*The SWIFT program includes two funds, the State Water Implementation Revenue Fund for Texas (SWIRFT) and the State Water Implementation Fund for Texas (SWIFT). Revenue bonds for the program are issued through the SWIRFT.

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.