Apply by February for Texas SWIFT Funds for Your Water Infrastructure Projects
Don’t miss your opportunity to obtain low-cost water project funding with no maximum project funding limit!
The Texas Water Development Board (TWDB) is accepting State Water Implementation Fund for Texas (SWIFT) abridged applications for Program Year 2021. They are due to TWDB by Monday, Feb. 1. TWDB anticipates a lot of interest in its funding programs in FY21, and Freese and Nichols already has begun assisting utilities to prepare their abridged applications.
The Texas Legislature created SWIFT with a directive to finance $27 billion in state water plan projects over the next 50 years. For an idea of which projects will be included in the 2022 State Water Plan, see the 2021 Regional Water Plans here.
SWIFT offers the following benefits to eligible applicants’ projects:
- Low-interest loans
- Long-term, fixed-rate loans offered at subsidized below-market rates based on TWDB’s AAA credit rating.
- Up to 30-year maturities/terms
- Deferred loans
- Principal and interest deferred up to eight years
- Targeted at projects with long development periods (planning, acquisition and design)
- Board participation
- Long-term, structured, fixed-rate financing through a temporary TWDB ownership interest in a regional facility that is being “right-sized” to accommodate future demand
Read more about the fund on the TWDB website: SWIFT
In addition to SWIFT, the TWDB soon will call for projects for both the Clean Water State Revolving Fund (CWSRF) and the Drinking Water State Revolving Fund (DWSRF) for the upcoming State FY2022 program cycle. We anticipate the SRF deadline to be in March 2021.
Here at Freese and Nichols, we can help you navigate the application process and obtain SWIFT funding like we have successfully assisted many other clients. For more information regarding this or other water funding opportunities, contact Mark Evans, Freese and Nichols Funding Specialist, at email@example.com, or your Freese and Nichols project manager.