AMARILLO, Texas (KFDA) - Three cities in the Texas Panhandle will soon be getting low-interest water loans from the Texas Water Development Board after voting approved today.
In the TWDB’s meeting today, they approved $795,000 for the City of Lefors, $1,459,000 for the City of Quitaque, and $29,500,000 for Amarillo.
$400,000 of the total Lefors is receiving is going toward loan forgiveness.
$950,000 of the Quitaque total will also be used as loan forgiveness, and $1,000,000 of Amarillo’s approved loan will be used for the same.
With the remaining loan amount, Lefors is looking to start wastewater system improvements, Quitaque will start a water system improvement project, and Amarillo will use the assistance to help finance the costs of implementing an advanced metering infrastructure project.
In addition to the loan forgiveness, Quitaque could save approximately $213,000 over the life of their loan with the Drinking Water State Revolving Fund, and Lefors could save approximately $155,000 and Amarillo could save $4.6 million.