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TWDB’s SWIFT program helps finance new reservoir to serve millions of Texans Posted on November 08, 2022


Transcript

Jenna Covington – Executive Director, North Texas Municipal Water District

Today is a fabulous day to celebrate the work of so many people over the last few decades to bring Bois d’Arc Lake to fruition. This lake is critical for the future of North Texas to ensure that we have a safe, reliable water supply available for the communities that we serve across North Texas. We currently serve around 2 million North Texans, spread out in over 80 communities. Of those communities, many of them are the larger cities that you may hear about, but many of them are rural communities. In fact, more than half of the communities we serve have a population of less than 10,000 people.

Brooke Paup – Chairwoman, Texas Water Development Board

Water supply is essential for the State of Texas. We are growing at over 1,000 citizens a day, and not a single one of those citizens is bringing a drop of water with them. 

Jack May - Director, North Texas Municipal Water District

It will definitely be an economic stimulus for the county. The average person, average customer, does not realize what it takes. The man hours and the number of people, the different disciplines that it takes, the different county, city, state agencies that are involved. It's just a tremendous amount of people. I couldn't even tell you how many thousands of people have actually touched this thing at one time or other. 

Jenna Covington – Executive Director, North Texas Municipal Water District

This project has a total price tag of around $1.6 billion. Through the use of the Texas Water Development Board's low-interest loans, we were able to save our members and customers, and ultimately their ratepayers, $250 million. 

Brooke Paup – Chairwoman, Texas Water Development Board

I think without the SWIFT program, which our legislators so wonderfully entrusted TWDB with in 2013, we wouldn't have the commitment to this water supply project. In order to qualify for SWIFT funding, you have to be in the state water plan. So North Texas Municipal Water District ensured that they got this reservoir in the state water plan, which enabled them to take advantage of a tremendous deal through our SWIFT program.

Jenna Covington – Executive Director, North Texas Municipal Water District

The Texas Water Development Board is an excellent partner for us. In addition to providing the funding that is necessary for this project, there’s been tremendous foresight by the State of Texas in the work that Texas Water Development Board does. 

Brooke Paup – Chairwoman, Texas Water Development Board

I am so thrilled to bring my two kids to the first reservoir built in over 30 years. This is one of the fastest growing areas in the state and in the country, and it desperately needs this water supply. So, this is a great day for the state.

This article is posted in Water Planning / Financial Assistance / Water Supply .