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Texas Water Development Board approves $320,000,000 to the Coastal Water Authority (Harris County) for a water supply project

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 $320,000,000 in multi-year financing from the State Water Implementation Fund for Texas (SWIFT)* program to the Coastal Water Authority (Harris County). The Authority will use the assistance to finance the planning, design, and construction of a water supply project.

The Authority could save approximately $2,300,000 during the first year of the multi-year financing by using the SWIFT program.

With the assistance approved today, the Authority will construct an additional pipeline to ensure continued uninterrupted water supply and to support future demand.    

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.