Q & A
Why Does Texas Need Prop 8?
Flooding in Texas is getting more destructive as our population increases and our economy grows. These floods cost billions of dollars in lost property and economic output. In order to truly reduce the impact of future floods, Texas can’t rely simply on local resources and planning. Texas needs a system to ensure funding for effective flood preparation and mitigation planning and projects at the regional level.
How Does Flood Infrastructure Fund (FIF) Work?
1. Administered by the Texas Water Development Board
2. Allows loans to local governments at or below market rate to assist in:
• Basic flood project planning;
• Extensive grant and application process at all levels of government;
• Engineering of structural and nonstructural flood mitigation projects
3. Offers grants to provide the necessary matching funds for local subdivisions to participate in various federal funding programs
How Does Everything Get Funded?
1. State of Texas funds FIF with $793 million from the Rainy Day Fund - plus additional funds for the soft costs for start up
2. Projects eligible for funding depend on Texas Water Development Board (TWDB) determining that all local entities in the region:
• Fully cooperated and substantially participated in the process of developing the projects;
• Held public meetings to accept comments from interested parties; and,
• Projects have been completely engineered and scored against one another.