Location: Marfa, TX
Program: State Water Implementation Fund for Texas (SWIFT)
When: Funding commitment made 07/23/2015
Loan closing occurred on 11/20/2015
Who: City of Marfa
This project was listed in the 2012 Texas State Water Plan as a recommended strategy for the City of Marfa to ensure it can maintain adequate water supply for the future.
One of its two (2) existing wells is far beyond its serviceable life but cannot be taken down for maintenance. It fails to meet minimum capacity standards due to deterioration.
A new well produces additional water to accommodate growing demand and will allow the older well to be off-line for appropriate service or replacement.
State Water Implementation Fund for Texas (SWIFT)
Amount funded: $705,000
SWIFT program provides interest rate subsidization, resulting in an estimated cost savings of $87,888 over the life of the loan compared to open market financing.
Preliminary phases (planning & design work) have been completed and construction begins soon.