The Puerto Rico Electric Power Authority’s transformation will require a strong energy policy as well as an implementation strategy that considers the island’s “complex situation.” Such was the opinion of Tomás J. Torres, executive director of the Puerto Rico Institute for a Competitive and Sustainable Economy, in testimony presented before the U.S. House of Representatives Committee […]
The Central Office of Recovery, Reconstruction and Resiliency, known as COR3, announced the disbursement of more than $237 million to several municipalities and government agencies, representing the first transaction after assuming the duties from the Federal Emergency Management Agency. COR3 Executive Director Omar Marrero said the disbursements were achieved in compliance with federal policies and procedures […]
By Jeniffer Wiscovitch-PadillaCenter for Investigative Journalism The U.S. Department of Housing and Urban Development’s Office of the Inspector General (HUD’s OIG) confirmed it is auditing the Community Development Block Grant–Disaster Recovery (CDBG–DR) Program funds granted to Puerto Rico after Hurricanes Irma and María. HUD Spokesman Darryl Madden told the Center for Investigative Journalism (CPI, for […]
Puerto Rico Gov. Ricardo Rosselló is expected to to sign a bill to radically transform the island’s economy with renewable energy as the central pillar. Senate Bill 1121, known as the Puerto Rico Energy Public Policy Act, will set the island on a path to 100 percent renewable energy by 2050, lawmakers said. The bill makes […]
The Central Office of Recovery, Reconstruction and Resiliency (known as COR3) will take over in April the responsibility to review and reimbursement approval of federal recovery funds from the Federal Emergency Management Agency, government officials announced. This agreement comes after “extensive effort on the part of Puerto Rico to work with FEMA and establish robust […]
The U.S. Treasury has submitted a report with recommendations to transform Puerto Rico’s property tax system, including the potential elimination of the controversial inventory tax, Raúl Maldonado, the local administration’s CFO said. Maldonado, who is also Puerto Rico Treasury Secretary, shared the content of the report with members of the United Retailers Association, the School […]
The Bank of Nova Scotia, parent company of Scotiabank de Puerto Rico, has sued the government’s Metropolitan Bus Authority for defaulting on some $32 million in a revolving credit and term loan agreement. Furthermore, the bank has asked the San Juan Superior Court to issue an order for a “provisional embargo and prohibition of alienation […]
Puerto Rico’s Resident Commissioner in Washington, Jenniffer González, announced the approval of $10.4 million in federal funds allocated by the Health Resources and Services Administration and the Department of Health and Human Services’ Administration for Children and Families. Neomed Center Inc., a 330 Center will receive an allocation of $5.9 million to cover the costs […]
Puerto Rico needs a successful long-term economic plan to achieve its goal of inexpensive energy, which calls for — among other things — an efficient and resilient Puerto Rico Electric Power Authority, San Juan-based analysis firm H. Calero Consulting concluded in its monthly internal bulletin. In “Pulse,” the firm also said while overhauling Puerto Rico’s […]
New Fortress Energy LLC announced that its Puerto Rico subsidiary, NFEnergía LLC, has entered into a contract with the Puerto Rico Electric Power Authority for the supply of natural gas and conversion of Units 5 and 6 of the San Juan Combined Cycle Power Plant. The initial term of the contract is five years, with […]
Puerto Rico Resident Commissioner in Washington, Jenniffer González, announced the allocation of $95.3 million in federal funds from the Department of Health and Human Services for child care services and health services, and from the National Science Foundation for Research and the Agency Federal Emergency Management System for recovery expenses. The Office of Head Start of […]
Puerto Rico Resident Commissioner Jenniffer González encouraged those affected by hurricane Maria who have not requested assistance yet from the Small Business Administration (SBA) to do so, as the agency continues accepting late applications under certain requirements. Individuals may apply for assistance by calling the SBA offices in Puerto Rico or the FEMA Community Resource […]
The Board of Directors of Invest Puerto Rico (InvestPR) has appointed Rodrick T. Miller as CEO to lead the nonprofit entity’s mission to attract new businesses and investment capital to the island. Atop the new CEO’s immediate priorities will be to deepen InvestPR’s relationships with its private sector partners on the island, finish the organization’s […]
The Central Office of Recovery, Reconstruction and Resiliency, known as COR3, unveiled its “transparency portal,” or the website created to provide information about Federal Emergency Management Agency funding to be used to rebuild Puerto Rico in the wake of Hurricane María. COR3 Executive Director Omar Marrero said the website will be updated regularly, as FEMA […]
Puerto Rico Fiscal Agency and Financial Advisory Authority (AAFAF) Executive Director, Christian Sobrino has opened a call to private-sector groups to visit the agency’s website to learn about the financing options for certain projects through the Puerto Rico Industrial, Tourist, Educational, Medical & Environmental Control Facilities Financing Authority. AFICA, as the Authority is known by […]
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