Texas Voters OK Propositions For Funding Projects and Flood Planning
On Nov. 5, Texas voters approved Proposition 2 and Proposition 8, constitutional amendments related to funding projects for economically distressed areas and also establishing a fund for regional flood planning and infrastructure projects.
More on Proposition 2
Proposition 2 authorizes the Texas Water Development Board (TWDB) to issue an additional $200 million in general obligation bonds. The funds would be used to further fund projects through the TWDB’s Economically Distressed Areas Program (EDAP). This program provides grants and low interest loans for water and wastewater projects to low income areas where services either do not exist or where existing systems do not meet minimum state standards.
More Proposition 8
Proposition 8 will create the Flood Infrastructure Fund (FIF) for a statewide, cooperative effort for regional flood planning, mitigation and infrastructure projects. Administered by the TWDB, FIF would allow loans at or below market rate to assist in basic flood project planning, extensive grant and application process and engineering of structural and nonstructural flood mitigation projects. It also offers grants to provide the necessary matching funds for local subdivisions to participate in various federal funding programs. The state would fund FIF with $793 Million from the Rainy Day Fund – representing 10 percent of the identified projects from TWDB, plus an additional $110 million for the soft costs for startup.
Proposition 2: If you have any questions about the EDAP program, contact Mark Evans or your project manager.
Proposition 8: Stakeholders will have an opportunity to review and comment on administrative rules to implement the FIF and new state flood planning programs established during the 86th Legislative Session. These rules are tentatively scheduled for the following TWDB meetings:
- Nov. 14: Board to consider publishing proposed flood financial assistance rules for public comment in the Texas Register in late November.
- Dec. 5: Board to consider publishing proposed regional and state flood planning rules for public comment in the Texas Register in mid-December.