As Texas’ population continues to grow, the Texas Water Fund will help communities across the state implement cost-effective water supply and wastewater projects through loans and grants. By providing low-cost, flexible financing options, the funding provides economic opportunity for communities to overcome cost hurdles.
“It’s really encouraging that state leaders recognize the importance of funding water supplies and infrastructure and, furthermore, that Texas voters also support these critical initiatives,” said TWDB Executive Administrator Jeff Walker.
Of the $1 billion appropriated to the Texas Water Fund, TWDB must allocate at least $250 million to the New Water Supply for Texas Fund. This new fund is designed to implement innovative water supply strategies, such as marine and brackish water desalination, oil and gas produced water treatment projects, and aquifer storage and recovery projects. Through this fund, the TWDB is directed to finance projects that will lead to 7 million acre-feet of new water supplies by December 31, 2033.
A portion of the fund must also prioritize water infrastructure projects in rural areas with a population of less than 150,000 as well as water conservation strategies and water loss mitigation projects.