The Texas Water Development Board (TWDB) recently approved the first-ever project prioritization list for the State Water Implementation Fund for Texas (SWIFT), according to a TWDB news release.
TWDB determined there is the financial capacity to invite all 39 eligible applications. Those projects include transmission pipelines, canal linings, capacity expansions, seawater desalination, leak detection systems, water meter replacements and reservoirs—which include five for rural projects, five for conservation and reuse and two are for agricultural projects.
Financial assistance of $1.07 billion is to be requested for the first year. A total of more than $4 billion in financial assistance will accumulate over the next decade. This funding option is made available to provide the sponsors and their customers with flexible financing options. An in-depth analysis determined the funding option was feasible to provide multi-year commitments and still protect the long-term viability of the SWIFT program.
Sponsors with projects on the list are now invited to officially apply for financial assistance. The prioritization list was based on abbreviated applications. The detailed applications will be due on June 5.