City of Corpus Christi's Inner Harbor Seawater Desalination Project Abridged Application for State Funding Receives High Rank

The Texas Water Development Board (TWDB) met today 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

About Corpus Christi Water

For more than 130 years, the City of Corpus Christi has been vital as the water supplier for the region. Our commitment to 500,000 residents across the Coastal Bend is to plan, produce, and deliver water that is affordable, drought-proof, sustainable, and reliable.