TWDB Approves $14.5M in funding for Client City of Brady
On Thursday the Texas Water Development Board approved more than $14.5 million in financial assistance to the City of Brady for financing construction costs associated with wastewater system improvements.
The funding consists of a $10,435,000 loan and $4,250,000 in loan forgiveness from the Clean Water State Revolving Fund. Having qualified as a small/rural community within the CWSRF program, Brady will further benefit by receiving $2,035,000 of the $10,435,000 loan with an interest rate of 0 percent, while the remainder of the loan will receive a below-market interest rate.
The City will replace its existing wastewater treatment plant with a new 0.6-million-gallon-per-day wastewater treatment plant, raising it out of the floodplain. In addition to the loan forgiveness, the City could save approximately $3.6 million by using the Clean Water State Revolving Fund.
Freese and Nichols’s Project Manager Coby Gee, left, helped the City with application preparation, coordination with agency staff during technical review and helped represent the City at the board meeting.
The TWDB is the state agency charged with collecting and disseminating water-related data, assisting with regional planning, and preparing the state water plan for the development of the state’s water resources. The TWDB administers cost-effective financial assistance programs for the construction of water supply, wastewater treatment, flood control and agricultural water conservation projects.
For more information regarding other water funding opportunities, contact Mark Evans at firstname.lastname@example.org or your Freese and Nichols project manager.