Texas Water Development Board approves $2.1 million to the Town of Westlake (Tarrant and Denton counties) for a water supply project

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AUSTIN – (July 26, 2018) – The Texas Water Development Board (TWDB) today approved by resolution financial assistance in the amount of a $2.1 million low-interest loan from the State Water Implementation Fund for Texas (SWIFT) program* to the Town of Westlake (Tarrant and Denton counties). The assistance will finance the planning, design, and construction costs associated with a water supply project.

The Town could save approximately $256,000 over the life of the loan by using the SWIFT program.

The project includes the construction of approximately 3 miles of water transmission pipeline connecting the Westlake West pump station to the City of Fort Worth's Northside II water treatment plant. The project will allow the Town to expand its capacity to serve its growing population.

*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.