Groundwater Conservation District Loan Program (GDLP)
| Jurisdiction: | Texas |
| Incentive Type: | Loan Program |
| Industries: | Infrastructure, Health And Safety, Real estate, IT, Insurance, Travel |
| Eligible Sector: | Government |
| Category: | Financial Incentive |
| Time Period: | FY 2015 |
| Governing Body: | Texas Water development board |
| What’s it worth?: | Not mentioned |
This program is restricted to short-term loans specific for financing start-up cost of new groundwater conservation districts. Funding is available to districts that are authorized to regulate the spacing of water wells and/or regulate the production from water wells. Loan funds may be used for funding or reimbursement of:
- Creation expenses
- Election costs
- Salaries
- Payroll taxes
- Utilities
- Travel
- Insurance
- Leases
- Overhead supplies
- Telephone equipment
- Computer equipment
- Legal fees
- Professional fees
Loan terms may not exceed three years and will be closed upon execution of the loan agreement. Eligible participants must complete an application packet that includes:
- Applicant identification
- Resolution requesting the assistance
- Adequate assurances of loan repayment
- Operating budget
- Repayment financing repayment
To receive financial assistants participants are required to have a security instrument and may be required to have system revenue, contract revenue, ad valorem tax, and tax and revenue pledges. Loan processing takes an average of 60 to 90 days. More information can be retrieved from the TWDB website.
