P.R. gets $10.4M in federal funding for 330 Center, Head Start
March 8, 2019
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 […]
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‘No clear path forward’ for PREPA restructuring, H. Calero Consulting says
March 7, 2019
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 […]
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New Fortress Energy signs contract to supply natural gas to PREPA
March 6, 2019
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 […]
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González announces $95M in federal funds for child care, science, disaster recovery
February 27, 2019
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 […]
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González urges those affected by Hurricane María to seek current SBA grants
February 25, 2019
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 […]
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InvestPR’s new CEO to ‘deepen relationships with local private sector partners’
February 22, 2019
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 […]
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COR3 office unveils website to provide updates on recovery funding, projects
February 20, 2019
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 […]
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Gov’t calls on private entities to learn about benefits of AFICA financing
February 18, 2019
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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HUD awards $125,500 to help P.R. families reach self-sufficiency
February 15, 2019
U.S. Housing and Urban Development Secretary Ben Carson awarded $125,567 to four public housing authorities in Puerto Rico to continue helping public housing residents participating in the Housing Choice Voucher Program and/or reside in public housing to increase their earned income and reduce their dependency on public assistance and rental subsidies. The funds will be […]
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Gov’t sends out another $39.4M to employers that retained workers post-hurricanes
February 8, 2019
The government sent out another $39.4 million to 1,294 employers who requested Employee Retention Tax Credit program after the impact of Hurricanes Irma and María last year. Gov. Ricardo Rosselló said the new allocation pushes the total amount paid out to $414.4 million from June 2018 to 16,676 employers who retained 415,921 employees after the […]
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Rossello submits bills to reorganize DTOP, projects $13M in savings in 1st year
January 29, 2019
Puerto Rico Gov. Ricardo Rosselló submitted legislative measures to reorganize the Department of Transportation and Public Works, which will generate $13 million in the first year and $142 million in five years, according to the Fiscal Plan. The DTOP, as the agency is known for its initials in Spanish, will be the umbrella agency for […]
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P.R. Institute of Statistics seeks injunction against board appointments
January 23, 2019
The Puerto Rico Institute of Statistics is seeking an injunction and declaratory judgment from the San Juan Superior Court challenging the validity of a number of board appointments Gov. Ricardo Rosselló made in late November 2018. The appointments casts doubt on the Institute’s independent criteria and the knowledge and expertise required for Board members to […]
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P3 Authority confirms selection of 4 proponents for PREPA transformation
January 18, 2019
The Puerto Rico Public Private Partnership Authority announced the selection of four proponents that have the necessary experience to manage and operate all aspects of the Puerto Rico Electric Power Authority’s electricity distribution and transmission system. P3 Authority Executive Director Omar Marrero confirmed the qualified proponents: Duke Energy Corporation; Exelon Corporation; PSEG Services Corporation; and […]
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U.S. House approves Velázquez P.R. amendments to Disaster Funding Bill
January 17, 2019
Washington, DC – The U.S. House of Representatives has approved two proposals authored by Rep. Nydia M. Velázquez (D-NY) aimed at assisting Puerto Rico, as the island continues recovering from economic hardship and historically catastrophic hurricanes. The amendments were approved as part of H.R. 268, a supplemental spending bill that appropriates additional funding for disaster […]
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Oversight Board, creditors’ committee challenge $6B of P.R. debt
January 15, 2019
The Special Claims Committee of the Financial Oversight Board for Puerto Rico announced that it and the Official Committee of Unsecured Creditors in Puerto Rico’s debt restructuring have filed an objection to more than $6 billion of Puerto Rico’s bonded debt. The objection asserts that the invalid debt was issued in clear violation of the […]
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