Texas Water Development Board approves $50,000,000 to the Brazos River Authority (Austin, Brazoria, Fort Bend, Galveston, and Harris counties) for acquisition of land and water rights permits

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AUSTIN – (July 25, 2023) – The Texas Water Development Board (TWDB) today approved by resolution financial assistance in the amount of $50,000,000, consisting of $16,470,000 in deferred financing and $33,530,000 in low-interest financing, from the State Water Implementation Fund for Texas (SWIFT)* program to Brazos River Authority (Austin, Brazoria, Fort Bend, Galveston, and Harris counties). The Authority will use the assistance for the acquisition of land and water rights permits.

The Authority could save an approximate total of $9,600,000 over the life of the loan by using the SWIFT program.

With the assistance approved today, the Authority will fund the reimbursement of land and permitting costs for an off-channel reservoir in Austin County that will provide an estimated 99,650 acre-feet per year firm yield for municipal, industrial, and irrigation purposes.

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.

*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.