Texas Water Development Board approves $25,000,000 to the City of Austin (Travis County) for water system improvements
For immediate release. Contact: Media Relations at 512-463-5129
AUSTIN – (July 23, 2024) – The Texas Water Development Board (TWDB) today approved by resolution financial assistance in the amount of $25,000,000 in financing from the State Water Implementation Fund for Texas (SWIFT)* program to the City of Austin (Travis County). The City will use the assistance for the construction of a water system improvement project.
The City could save approximately $2,700,000 over the life of the loan by using the SWIFT program.
The City previously received SWIFT funding in 2016 to develop advanced meter infrastructure in its water utility system, replacing analog water meters with advanced meters to improve the quality and timeliness of water usage data. As of 2024, the City has installed 225,000 meters. With the assistance approved today, the City will address cost overruns for the original project and add 31,000 additional meters.
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 mitigation, 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.