Irving projects extensive water and sewer debt issuances amid major drainage infrastructure investments

Irving projects extensive water and sewer debt issuances amid major drainage infrastructure investmentsWhile detailed utility fund presentations were postponed to a future work session, Irving's latest financial overview revealed extensive reliance on Texas Water Development Board financing for stormwater projects and projected significant upcoming water and sewer borrowing.

The city's water and sewer system currently holds $212 million in outstanding debt, with projections indicating a combined $560.7 million in new general obligation and water/sewer debt over the next five years.

Irving's Municipal Drainage Utility (MDU) carries $167 million in outstanding debt, successfully financed through low- and no-interest Texas Water Development Board bonds.

The city recently secured over $35 million in state funding for upcoming phases of the North Delaware Creek drainage project.

Tax Increment Finance (TIF) 1 funds remain committed to accelerated waterway maintenance and lake wall rehabilitation projects.

During an August 11 budget retreat, the City of Irving, Texas, outlined its debt capacity and capital project funding, revealing significant planned investments in water, sewer, and stormwater infrastructure. Although detailed presentations on the Water and Sewer Fund and the Municipal Drainage Utility (MDU) Fund were postponed to an August 27 work session due to time constraints, Chief Financial Officer Brett Starr provided a comprehensive overview of the city's utility debt profile. According to Starr, the city's water and sewer system currently carries $212 million in outstanding debt. Over the next five years, Irving projects issuing an additional $560.7 million in combined new debt for general obligation and water and sewer projects. On the stormwater front, the MDU currently holds $167 million in outstanding debt. Starr noted that the city has successfully issued three years' worth of Texas Water Development Board bonds at low or zero interest rates to finance these drainage improvements. An additional $15 million in MDU debt is projected in the near term. The city's capital accomplishments over the past fiscal year also highlighted major drainage investments. Irving received more than $35 million in state funding to support the next phases of the North Delaware Creek project, part of its ongoing "Drainage Solutions for a Better Tomorrow" initiative. Additionally, Finance Director Brad Duff noted that the city's Tax Increment Finance (TIF) 1 district remains committed to funding water-related infrastructure managed by the Dallas County Utility and Reclamation District (DCURD). Dedicated TIF allocations will support ongoing accelerated waterway maintenance and lake wall rehabilitation projects.