The Texas Water Development Board (TWDB) announced the projected savings for Texas communities participating in the 2017 funding cycle of the State Water Implementation Fund for Texas (SWIFT) program. Bonds were sold to provide approximately $1.2 billion in state water plan project funding. The TWDB estimates the 23 project sponsors will save an estimated $198 million by using the SWIFT program.
In its September 28th meeting, the Board also established the interest rates for SWIFT borrowers. The application period for the fourth round of the SWIFT program will open later this year. To be eligible for the upcoming round of SWIFT, projects must be included in the 2017 State Water Plan.