Texas Water Development Board approves $12 million to the City of Waco (McLennan County) for a meter replacement project

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

AUSTIN – (July 21, 2016) – The Texas Water Development Board (TWDB) today approved by resolution financial assistance in the amount of a $12 million low-interest loan from the State Water Implementation Fund for Texas (SWIFT) program* to the City of Waco (McLennan County). The City will use the assistance to finance a meter replacement project.

The City could save approximately $1.2 million over the life of the loan by using the SWIFT program.

The City plans to install approximately 46,000 automatic meter readers for retail customers and five for wholesale connections. The new meters will reduce the City's water loss by reducing data handling errors and minimizing the under-reporting of actual water consumption by old meters. The software included with the meters will improve meter reading methodology, help the City save money, and make possible -with the installation of an acoustic leak detection system-more timely leak repairs.

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