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Ute project funding details reviewed by Water Fund Board
Howalt outlined funding for the Ute project noting the Water Fund Project receives 10 percent annually from State Severance Tax Bond proceeds with 33.2 million available in 2013 and 31.3 million in 2014. He cited a 4.5 million cap per project and a 50 percent spend-before-apply rule for Water Trust Board grants. The board highlighted 12 to 18 month grant–loan timelines, 90 percent grant funding, and a seven year average of 3.9 million yearly. Local communities will contribute variably and NMFA requires revenue-stream guarantees by 2016. Phase I infrastructure progress and Phase II renewable water efforts were reviewed.
MENTIONED IN THIS ARTICLE
Howalt
Water Trust Board
WTB
Howatt
Water Authority
New Mexico Finance Authority
Clovis
Portales
Texico
Melrose
Grady
Elida
Curry County
Howart
NMFA