State Water Implementation Fund for Texas (SWIFT)

Jurisdiction:
Texas
Incentive Type:Loan Program
Industries:
Infrastructure, Technology & Agriculture
Eligible Sector:
Government
Category:
Financial Incentive
Time Period:
FY 2015
Governing Body:Texas Water Development Board
Amount:$27 billion

The State Water Implementation Fund for Texas (SWIFT) has been designed to financially support projects in line with the state water plan to develop and optimize water supplies at cost-effective rates.  SWIFT provides loans with low-interest and may have extended terms, deferral options, or repurchase terms. Eligible participants include political subdivisions including:

  • Nonprofit water supply corporations
  • Municipalities
  • Counties
  • River authorizes
  • Special law districts
  • Water improvement districts
  • Water control and improvement districts
  • Irrigation districts
  • Groundwater conservation districts

Recommended water management strategies outlined in the regional water plans are eligible to apply for the SWIFT program.  Funds from the program may be used for planning, acquisition, design, and construction costs of eligible projects:

  • Conservation
  • Reuse
  • Desalinating groundwater
  • Desalinating seawater
  • Building new pipelines
  • Developing reservoirs
  • Wells fields
  • Purchasing water rights
  • Preapproved other strategies

Eligible participants must submit an abridged application to TWDB  for SWIFT; applications will be approved according to priority rating. The TWDB Board determines prioritization, category, financing structure, and subsidy terms. Selected applicants will be invited to submit a full application, which must be submitted by the participant within 30 days of the Board meeting. Applications are prioritized according to specific criteria:

  • Population served
  • Diverse urban and rural population
  • Provides regionalization
  • Local contributions
  • Ability to repay
  • Addresses emergency needs
  • Ready for implementation or construction
  • Demonstration of projected effect
  • Priority ranking of Regional Water Planning Group

More information can be found on the TWDB website.