The Local Redevelopment Authority for Roosevelt Roads today published a Request for Qualifications seeking potential investors and developers for approximately 3,000 acres of lands and facilities available for a mixed use project with tourist, commercial, light industrial, educational and residential opportunities.
The Puerto Rico Electric Power Authority got a double-whammy from stateside credit ratings agencies, which separately downgraded the agency’s credit a day after Gov. García-Padilla announced a bill paving the way for the restructuring of fiscally troubled public corporations.
Gov. Alejandro García-Padilla filed Wednesday at the Legislature the “Puerto Rico Public Corporations Debt Enforcement and Recovery Act,” to create a clear legislative framework to assist financially stressed public corporations overcome their problems “through an orderly, statutory process” that allows them to handle their debts fairly and equitably, while ensuring the continuity of essential services to citizens and infrastructure upgrades.
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