Somervell County Funding Success Story
In 2008, Freese and Nichols assisted the Somervell County Water District in preparing a $32-million loan application for the Texas Water Development Board’s (TWDB) Water Infrastructure Fund (WIF) loan. The County was in need of relieving overuse of groundwater in the Trinity Aquifer. The District’s goal was to transition the County from groundwater to surface water. The WIF loan helped pay for the treatment facilities and distribution system.
Unfortunately that year, the TWDB received far more requests for funding than it could accommodate. Undeterred, Freese and Nichols worked with the TWDB to break the request into smaller amounts using different funding sources. As a result, the $32-million loan was spread across five different TWDB funding sources, including $9.3 million from WIF.
In the end, the District came out ahead on funding because they were able to obtain grants for about one-third of the project cost! The project also experienced an unusual bonus due to the economic downturn over the past few years. Construction costs were lower than originally anticipated, making it possible for the District to proceed with additional planned phases of the distribution system sooner rather than later.
The project is complete and includes a new membrane filtration facility and a 26-mile distribution system. It is featured on TWDB's website. View the article here.
The deadline for WIF applications is August 1, 2012. For more information, please contact Stephanie Griffin.