Gov’t unveils free housing blueprints for hurricane, earthquake-resilient homes
October 30, 2020
Given the need in Puerto Rico for safe and resilient structures due to the frequency of storms and seismic events, and to help phase out life-threatening, irregular construction, the Department of Economic Development and Commerce (DDEC, in Spanish) announced the availability of free housing blueprints. “Through these plans to develop safe homes, we offer an […]
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Delgado proposes STEM-based Project 3i as basis of economic plan
October 27, 2020
Popular Democratic Party gubernatorial candidate Carlos “Charlie” Delgado-Altieri wants to transform Puerto Rico’s economy based on Science, Technology, Engineering and Mathematics (STEM) through a proposal he calls Project 3i. This project consists on establishing a scientific business ecosystem that can allow developed ideas to manufacture and market locally. The plan will promote education in these […]
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NRCS delivers emergency conservation assistance, healthier natural resources in ’20
October 27, 2020
In 2020, USDA’s Natural Resources Conservation Service (NRCS) continued its tradition of working in partnership with farmers, ranchers, and forest landowners in the Caribbean area — Puerto Rico and the U.S. Virgin Islands — despite hardships from earthquakes to COVID-19 to tropical storms. “Our data and science-based surveys of our work show that we and […]
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FEMA allocates $15M to repair athletic facilities in Puerto Rico
October 23, 2020
Puerto Rico’s most iconic sporting venues will soon begin to undergo structural repairs through a $15 million allocation from the Federal Emergency Management Agency, the agency announced. The Roberto Clemente Coliseum, Sixto Escobar Park, the Pedrín Zorrilla Coliseum, the San Juan Natatorium, the Baldrich Club tennis courts and the Dr. José Celso Barbosa Park will […]
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Bankruptcy judge OK’s LUMA Energy contract to manage PREPA’s T&D system
October 20, 2020
U.S. District Court Judge Laura Taylor Swain approved the contract between the Puerto Rico Electric Power Authority and LUMA Energy, determining it can be considered as an administrative expense for the power utility. The decision followed section 503 of the U.S. Bankruptcy Code, under which PREPA is covered. LUMA will charge PREPA some $60 million […]
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FEMA assigns $238M+ to PREPA to replace earthquake-damaged generators
October 14, 2020
The Federal Emergency Management Agency recently obligated more than $238 million to the Puerto Rico Electric Power Authority (PREPA) for costs related to 28 peaking generator units that provide power to critical facilities until the Costa Sur units in Peñuelas are back in service. The units, which typically only run when there is high demand for […]
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LUMA Energy deal to manage Puerto Rico power grid bodes trouble
October 13, 2020
A major contract signed with the LUMA Energy consortium may prevent Puerto Rico from building a safe, reliable and resilient electrical system, according to a new report from the Institute for Energy Economics and Financial Analysis (IEEFA). The deal to operate the island’s grid came in the wake of a series of devastating 2017 hurricanes and amounts […]
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6 towns get go-ahead to use $19M in community disaster loan funds
October 7, 2020
Six towns affected by the earthquakes that rattled Puerto Rico in January recently got the go-ahead from the Federal Emergency Management Agency to tap into a combined $19 million in Community Disaster Loans (CDL) to rebuild. Guayanilla, Mayagüez, Ponce, Salinas, Santa Isabel and Villalba will be able to tap into the operational funds meant to […]
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P3 Authority moves ahead on projects despite pandemic-related delays
October 2, 2020
Fermín Fontanés, executive director of the Puerto Rico Public-Private Partnerships Authority, provides an update on several proposals in the pipeline in the areas of energy and transportation, as well as the effects of the COVID-19 pandemic on the proceedings.
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PREPA spent $192M on unused lands, unfinished projects, Comptroller’s audit says
October 1, 2020
The Puerto Rico Electric Power Authority spent $192 million to buy land or to develop projects that were not built or completed, according to an audit by the Puerto Rico Office of the Comptroller. The report reveals that PREPA spent $62.2 million in the cancellation of the Gasoducto del Sur natural gas pipeline project, disbursed […]
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FEMA assigns $9.5M to repair Roberto Clemente Municipal Sports Complex
October 1, 2020
The Roberto Clemente Municipal Sports Complex in Carolina will be rebuilt with help of an obligation of nearly $9.5 million from the Federal Emergency Management Agency. The facility consists of several structures built between 1988 and 2009. These include a playground for children with access and functional needs, the Guillermo Angulo Coliseum and a Sports Hall of […]
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41 Puerto Rico towns among recipients of $91.4M in FEMA grants
September 23, 2020
The Federal Emergency Management Agency and the Puerto Rico Central Office for Recovery, Reconstruction and Resilience, or COR3, announced the obligation of more than $91.4 million in additional funds for 135 projects related to the recovery and reconstruction of Puerto Rico after Hurricane María. These grants were assigned during the week of Sept. 11-17, the government agencies confirmed. Among the […]
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Carolina municipal gov’t breaks ground on new $12.7M medical tower
September 22, 2020
The municipal government of the town of Carolina announced the start of construction of a new, $12.7 million medical tower that will incorporate retail spaces and a multi-level parking facility. The new six-floor building will provide support to the Doctors’ Center Hospital San Fernando de la Carolina in the town’s urban center, Mayor José Carlos […]
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Rural Development partners with Puerto Rico gov’t to offer home buying assistance
September 22, 2020
The U.S. Department of Agriculture’s Rural Development office in Puerto Rico has partnered with the Puerto Rico Housing Finance Authority to help low-or moderate-income families become homeowners. In a news release, Josué E. Rivera, USDA Rural Development Director for Puerto Rico and José J. Hernández Caraballo, deputy director of the Puerto Rico Housing Financing Authority, […]
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U.S. House Judiciary Committee approves ‘Puerto Rico Recovery Accuracy in Disclosures Act’
September 10, 2020
The U.S. House Judiciary Committee approved legislation authored by Rep. Nydia M. Velázquez (D-NY) aimed at extending to firms working on Puerto Rico’s debt restructuring the same disclosure requirements that apply to companies involved in other bankruptcies. The bill, H.R. 683, is meant to address instances where companies consulting for Financial Oversight and Management Board for Puerto […]
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