American Recovery and Reinvestment Act
Update
March 2, 2009
The Texas Water Development (Board) is pleased to provide you with the latest updates regarding the Intended Use Plan project submittals it has received and information regarding the American Recovery and Reinvestment Act Funds. Please note the following that is based upon the most recent guidance available:
- On February 17, 2009, President Obama signed the $787 billion American Recovery and Reinvestment Act (ARRA).
- Texas will receive approximately $340 million in ARRA funds through the Clean Water (wastewater) and Drinking Water State Revolving Fund programs.
Clean Water State Revolving Fund – Wastewater Projects:
- Approximately $179.1 million in ARRA.
- At least 50% must be used to provide additional subsidization (i.e. forgiveness of principal, negative interest loans, or grants).
- At least 20% must be used for eligible “green” projects.
- Over 620 Intended Use Plan project submittals from public entities in the state of Texas were received totaling more than $4.87 billion.
Drinking Water State Revolving Fund – Water Projects:
- Approximately $160.7 million in ARRA.
- At least 50% must be used to provide additional subsidization (i.e. forgiveness of principal, negative interest loans, or grants).
- At least 20% must be used for eligible “green” projects.
- Over 680 Intended Use Plan project submittals from public entities in the state of Texas were received totaling more than $4.7 billion.
General Information:
- All FY2009 and FY2010 Intended Use Plan project submittals will be prioritized for ARRA. Emphasis will be on eligible projects that are ready to proceed to construction.
- All aspects of a project must be ready to begin construction within 12 months (by February 2010) in order to be eligible for ARRA.
- As part of the prioritization process, the Board will be conducting a survey of all potential applicants to better ascertain project status. Further information regarding the survey will follow.
- Funding is also available through the standard SFY2010 Clean and Drinking Water State Revolving Fund programs which offer attractive financing terms.
The Board will continue to provide you with updates as we learn more about this important matter. If you have any questions, please don’t hesitate to contact us.