Title
Consider a resolution approving and authorizing the Brushy Creek Regional Utility Authority (BCRUA) to submit an application to the Texas Water Development Board for funding through the State Water Implementation Fund for Texas (SWIFT).
Body
The Brushy Creek Regional Utility Authority (BCRUA) is a regional water system formed by the cities of Cedar Park, Leander, and Round Rock for the purpose of treating and distributing water to the cities.
The BCRUA Phase 2 Deep Water Intake project is a permanent raw water intake on Lake Travis, which will replace the floating intake that was constructed with Phase 1. The deep water intake, which will have an ultimate capacity of 144.7 million gallons a day (MGD), will provide a reliable supply of raw water through the buildout of BCRUA.
BCRUA is seeking a State Water Implementation Fund for Texas (SWIFT) loan from the Texas Water Development Board (TWDB) in the form of low-interest loans. The SWIFT funding will be used to fund the BCRUA Phase 2 project which is currently in construction, along with the BCRUA Phase 1D water treatment plant expansion construction which is scheduled to start in the summer of 2023.
As part of the SWIFT funding application process, the TWDB requires each City to pass a resolution authorizing the application for funding and naming authorized representatives to provide information to the TWDB to support the application. The resolution allows the BCRUA to submit an application for funding to the TWDB and authorizes the City of Round Rock representative to furnish such information and execute documents as may be required in connection with the preparation and filing of the application for the SWIFT loan.
The total SWIFT funding being requested by BCRUA is $98,055,000, with the City of Round Rock’s share totaling $90,450,000. The total loan amount will be taken down over the course of several years.
Cost: $90,450,000
Source of Funds: Regional Water Fund