Marble Falls requests $25.8M from state for new wastewater plant
Marble Falls is asking for $25.8 million from the Texas Water Development Board for the city’s proposed wastewater treatment plant, which is projected to cost around $60 million to $80 million. The council voted to approve the funding request at its regular meeting on Tuesday, Feb. 20.
About 60 percent of the $25.8 million figure would come from zero-percent interest loans, while the other 40 percent would be grant-funded.
“I’m excited about this,” Mayor Dave Rhodes said.
The request follows past funding commitments by TWDB to the city that total $36 million.
“If the board awards the city the additional funding of $25.8 million, that would bring the grand total of our TWDB funds to $61.8 million for the wastewater treatment plant,” said city Finance Director Jeff Lazenby.
Rhodes said the money would lessen the impact of the project on the city’s coffers as it prepares to build the new facility.
“That $60 million in either grant, low-interest, or zero-interest money helps us a long way,” he said.
The city will find out if the funding request is approved within the next 60 days.
“We’ll proceed with the issuances of (certificates of obligation) once we hear from (the board),” said city financial advisor Andrew Friedman of SAMCO Capital Markets.
Friedman feels confident Marble Falls will get the money.
“I’m not going to say I’m 100 percent (confident), but they’ve told us we qualify,” he said. “(TWDB) typically doesn’t go back on what they’ve indicated in terms of grant funding. I expect that we will get that.”
Rhodes pointed to the proposed wastewater treatment plant’s intended direct potable reuse, also known as DPR, as a major factor in the city’s eligibility for funding. DPR is a technology that turns reclaimed water into water that is safe for consumption. It is used by the U.S. Navy, cruise ships, and many municipalities across the country.
“(TWDB) are excited about our project,” he said. “DPR is a big part of it. We’re going to set some state standards here. We’ve just got to get going with this.”