SAWS News: SAWS Board Approval Could Lower Vista Ridge Costs by $450 million
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Edwards Aquifer

Aquifer Level 678.8'
7/17/19 - Official

The Edwards aquifer and its catchment area in the San Antonio region is about 8,000 square miles and includes all or part of 13 counties in south-central Texas.

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Watering with an irrigation system or sprinkler is allowed any day of the week before 11 a.m. or after 7 p.m.

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Aquifer Level 678.8 | Year-Round Watering Hours

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SAWS Board Approval Could Lower Vista Ridge Costs by $450 million

San Antonio Water System Board of Trustees approved a recommendation by staff to lock in interest rates for the Vista Ridge water project, which will lower the cost to SAWS customers by more than $450 million. Current record low interest rates present an opportunity to set long-term fixed financing as low as 4.23 percent.

Lower rates provide an exciting opportunity for San Antonians as they directly translate into lower prices for Vista Ridge water. The maximum estimated capital and raw groundwater unit price of Vista Ridge water, which was projected at $1,959 per acre foot, could now be estimated lowered by more than $300 per acre foot based upon current interest rates.

The action taken today will result in lower costs of more than $15 million per year from the maximum level that was unanimously approved by City Council under the original contract.

Board approval allows SAWS staff to lock in the interest rate after providing at least seven business days notice, as stipulated under the current contract. This will establish the benchmark rate and the ultimate fixed price component for the project.

“The actions that the SAWS board took today will secure our water future, improve our quality of life and reduce our project costs by more than $450 million,” said San Antonio Mayor Ivy R. Taylor. "SAWS board and staff have been truly conservative in their estimates, requests and actions. That measured, careful approach will result in less money from ratepayers’ pocketbooks.”

“This is a great day for San Antonio. When we negotiated this contract 18 months ago said SAWS Board Chairman, Berto Guerra, interest rates were almost two points higher. Now we have reduced costs for the project by $450 million. I am amazed at the skill, the wisdom, and abilities of our Mayor, our staff, our Council, and their staff; and I am so thankful of the savings that will benefit our grandchildren.

SAWS Board will consider approving additional changes to the Vista Ridge Water Project within the next few weeks.

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