City of Corpus Christi

CORPUS CHRISTI, TEXAS (News Release) - The Texas Water Development Board (TWDB) met recently to review and approve the 2024 State Water Implementation Fund for Texas (SWIFT) program package. A total of 20 abridged applications from water organizations across Texas were submitted, totaling $3.3 Billion for water projects.

In February, the City submitted its abridged application to TWDB for the remaining projected funding of $535,110,000 for the Inner Habor Seawater Desalination Treatment Plant. The City’s abridged application received the second-highest score out of the 20 abridged applications that the TWDB received. The applications were scored using a priority ranking based on the population served, assisting in a diverse population, providing regionalization, and meeting a high percentage of water user’s needs.

After completing the scoring of the 20 abridged applications today, the TWDB invited the City to submit a full application to the 2024 SWIFT program.

Below is the remaining schedule for the 2024 SWIFT funding cycle.

• April 11

  • Abridged applications prioritization scoring

  • Amount of funds available by category, structure of financing, and subsidy terms established

  • Invitations extended to submit complete applications for financial assistance

• May 13

  • Full applications due to the TWDB

• Summer

  • Authorization of TWDB bond sale, selection of co-managing underwriters, and approval of a not to exceed amount

  • Execution of financing agreements with borrowers

• Fall

  • TWDB bond sale, interest rates set, funds transfer agreement ratification, TWDB bond closing, borrowers’ closings

For more information on the City's Inner Harbor seawater desalination project, visit www.desal.cctexas.com