The Texas Water Development Board will open the application period for the State Water Implementation Fund for Texas (SWIFT) financial assistance program on December 1, 2015. This will be the second round of financial assistance made available through the SWIFT program.
“The second round of SWIFT financial assistance is an important milestone for the TWDB and the state,” said TWDB Board Chairman Bech Bruun. “Thanks to the hard work of the TWDB staff and water entities around the state, demand for the first round of SWIFT financial assistance was an overwhelming success, with $3.9 billion approved for projects over the next decade. As we move forward with the second round of SWIFT funding, the TWDB stands ready to partner with additional communities to help provide them with affordable, sustainable water supplies.”
To be eligible for the upcoming round of SWIFT, projects must be included in the adopted 2016 Regional Water Plans and the subsequent 2017 State Water Plan.
Project sponsors must submit abridged applications to the TWDB by February 5, 2016. The abridged applications will provide the TWDB with information needed to prioritize the list of interested projects. The projects will then be ranked according to the SWIFT prioritization rules. During this time, the Board will identify the amounts of funds available by category and establish the structure of financing and the subsidy terms.
“We encourage communities to continue to take advantage of SWIFT and the cost saving options made available through the program,” said TWDB Board member Kathleen Jackson. “The water management strategies included in the state water plan are key to securing the long-term water supply of our state, and SWIFT is ready to turn planning into projects.”
Once the Board has prioritized the abridged applications and analyzed the financial assistance requested, the Board will extend invitations in mid-spring to eligible entities to submit full applications. Those entities will have 30 days to complete and submit the full application to the TWDB.
The Board will consider approving SWIFT applications in summer 2016.
SWIFT was established by the Texas Legislature and voters in 2013 to fund projects in the state water plan. SWIFT was created through the transfer of a one-time, $2 billion appropriation from the state’s Rainy Day Fund. The $2 billion will be leveraged with revenue bonds over the next 50 years to finance approximately $27 billion in water supply projects. More information on the SWIFT program is available on our website.
The TWDB is the state agency charged with collecting and disseminating water-related data, assisting with regional planning and preparing the state water plan for the development of the state’s water resources. The TWDB administers cost-effective financial assistance programs for the construction of water supply, wastewater treatment, flood control, and agricultural water conservation projects.