TWDB Adopts SWIFT Rules, Accepting Applications
The Texas Water Development Board (TWDB) announced today that it adopted the final rules for the State Water Implementation Fund for Texas (SWIFT).
“Today is a historic day for the citizens of Texas and for the future of our state’s water supplies,” said TWDB Chairman Carlos Rubinstein. “SWIFT will allow the TWDB to provide financial assistance to important water projects around the state that will provide additional water supplies to urban and rural citizens alike. The projects will be diverse, from conserving and maintaining a current water supply, to innovative technology that taps into new sources of water. Each project funded by SWIFT will take us one step closer to being drought-resilient.”
Texas voters approved the constitutional amendment that created SWIFT in November 2013. Introduced by the Texas Legislature in 2013, SWIFT enabled the one-time investment of $2 billion from the state’s Rainy Day Fund for low-cost loans for water projects in Texas.
Entities interested in applying for SWIFT will need to submit an abridged application to the TWDB by February 3, 2015. The abridged application will provide information the TWDB needs to complete prioritization of projects. The projects will then be ranked according to SWIFT prioritization rules approved today. Projects that receive priority for funding will need to submit a full application, which will include an environmental, engineering, financial, and legal review. For more details on how to apply, please visit the TWDB website.