North American Development Bank finances Texas wastewater project
The North American Development Bank has agreed a $500,000 grant deal with the Lower Valley Water District (LVWD) to support a wastewater project in the Rosa Azul subdivision in Socorro, Texas. The new system will provide first-time access to wastewater services that will help prevent exposure to untreated or inadequately treated discharges.
The project consists of connecting homes to the wastewater collection system and decommissioning existing on-site wastewater disposal systems for up to 278 homes, benefiting an estimated 996 residents. NADB will fund $500,000 of the project cost through its Community Assistance Program, with LVWD covering the remaining portion.
The cost of installing the connection and decommissioning the on-site system is typically the responsibility of the resident. However, to relieve this financial hardship for the economically distressed population served by the new infrastructure, LVWD secured CAP funding to cover 85% of the cost.
