Texas Water Development Board approves $11,000,800 to the City of Iola (Grimes County) for a new wastewater system

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

AUSTIN – (October 1, 2020) – The Texas Water Development Board (TWDB) today approved by resolution financial assistance in the amount of $11,000,800 in multi-year financing, consisting of a $3,926,000 zero-interest loan and $7,074,800 in loan forgiveness from the Clean Water State Revolving Fund, to the City of Iola (Grimes County). The City will use the assistance to finance planning, acquisition, design, and construction costs associated with a new wastewater system.

In addition to the loan forgiveness, the City could save approximately $275,000 over the life of the 2020 portion of the loan commitment by using the Clean Water State Revolving Fund. Additional savings will occur when the City closes on the second portion of the loan.

The assistance approved today will allow the City to provide first-time wastewater service to residences and businesses within its city limits. The project includes a new wastewater treatment plant, lift stations, and collection system, as well as an asset management plan.

The TWDB is the state agency charged with collecting and disseminating water-related data, assisting with regional water and flood planning, and preparing the state water and flood plans. The TWDB administers cost-effective financial assistance programs for the construction of water supply, wastewater treatment, flood control, and agricultural water conservation projects.