The Brazos River Authority voted to authorize staff to file an abridged application with the Texas Water Development Board’s State Water Implementation Fund for Texas (SWIFT) seeking an aggregate amount not to exceed $50,000,000 to be used on design and related permitting for the Allens Creek Reservoir project.

Chief Financial Officer Michelle Giroir explained the advantages of SWIFT financing — including more favorable interest terms tied to TWDB’s credit rating, options for deferred loans for development costs and low‑interest loans for construction and land acquisition — and said staff intends to pursue the abridged application (due by Feb. 1) and, if invited, a full application in the spring.

Directors asked about the interest‑rate form (staff said rates are published later), whether the $50 million is fixed and whether SWIFT will allow multi‑year commitments; staff said the amount is an aggregate request and multi‑year commitments are possible so the authority can submit amounts year by year as design and permitting progress. Giroir and other staff explained the applicant must be a political subdivision and that SWIFT can fund up to 80% of a project’s total cost.

The board voted to authorize submission of the abridged application and designated the general manager/CEO and CFO as authorized representatives to submit a full application if invited.