The Texas Water Development Board has opened the application period for the next round of SWIFT financing. The application period started yesterday, December 1, 2015, and will remain open through February 5, 2016. The application webpage can be found here.
In the first round of SWIFT financing in 2015, the Board provided funds to just over $1 billion in water projects in Texas, with future commitments for an additional $2.9 billion. The geographic distribution of funds can be seen in the charts below. As is apparent, North Texas was the recipient of the largest share of 2015 funds, while the Houston area was the largest recipient of future commitments and overall funding. The two largest projects were:
There has been no shortage of news articles on the California drought this year. Many have helped inform the public about critical issues related to the conservation and development of water resources in the state, and about changes or potential changes in the laws and regulations concerning urban water use and groundwater. There have also been a number that focus on the existence of and increased activity in a market for water rights and supplies, including this article from today in Bloomberg.
It is widely agreed that a growing population and economy, combined with current drought conditions and increasing understanding of long-term climate variability, create an urgent need to develop new water supplies in the US. This is especially true in Texas and California, two states where I focus much of my attention. One type of project that always seems to be misunderstood and maligned, however, is interbasin water transfers.
The Fourth District Court of Appeal in California has released a decision regarding the procedural requirements of Proposition 218 as applied to water rates. The case is Morgan v. Imperial Irrigation District, Case Nos. D060146 and D061087, and while the decision is currently unpublished, it is likely that publication will be requested by one or more interested agencies in the near future.
The Federal Reserve Bank of Dallas has published an article on potential impacts to the Texas economy from water shortages, aptly named Water Scarcity a Potential Drain on the Texas Economy. Texas is experiencing record dry conditions, which is likely to combine with increasing water demands from growing urban areas to create a potentially volatile situation for future water supplies.