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2015-02-19

TWDB receives 48 SWIFT loan apps

Contributed

On Tuesday, Feb. 3, the application period for the first round of State Water Implementation Fund for Texas (SWIFT) funding officially closed. The TWDB received 48 applications for more than $5.5 billion in loan funds.
The TWDB has conducted extensive outreach to promote SWIFT. As a result of those efforts, the agency received applications from all parts of the state, including a mix of urban and rural projects. As expected, the demand for SWIFT exceeds the amount available for round one of SWIFT funding.
The TWDB had estimated it would be providing approximately $800 million in SWIFT financial assistance in this round and will be reviewing the applications to evaluate the specific funding structures requested and impacts on total financial assistance that the TWDB can make available in the initial round.
The TWDB will start the evaluation process immediately. Over the next few months, the agency will conduct a comprehensive scoring process of all applications. Projects will be scored against the prioritization criteria developed through public input in 2014.
The project prioritization list will be released later this spring. The TWDB anticipates funding SWIFT loans by the fall.
Projects not selected for the first round of funding may be eligible to apply for the subsequent round of SWIFT funding or other TWDB financial programs.
Texas is now one step closer to achieving the goal of developing water for Texas, not only for today but also for our future.