NEWS: SpaceX will fund up to $220 million in Brownsville water and wastewater projects in exchange for roughly 445 acres of land.
• Brownsville unanimously approved deannexing the land near the Port of Brownsville.
• SpaceX will provide $40M upfront, followed by six quarterly $30M payments.
• The projects could add 18M gallons of water capacity per day.
• The investment could reduce or even eliminate Brownsville’s reliance on the Rio Grande.
• SpaceX says it will still pay for its water use like everyone else.
The deal could strengthen Brownsville’s long-term water security while supporting SpaceX’s growing South Texas operations.
Source: The Texas Tribune