The Local Redevelopment Authority for Roosevelt Roads announced Thursday that eight groups submitted their statement of qualifications in response to a Request for Qualifications published in June seeking developers for some 3,000 acres of land at the former naval base in Ceiba.
The Puerto Rico Treasury Department reported Thursday preliminary revenue for July 2014, the first month of the current fiscal year, reached $624 million, up $129 million, or 26 percent, from the total on record for the same month last year.
High-ranking García-Padilla administration officials this week backed the proposed extension of Law 508 to stretch the life of the Roosevelt Roads Local Redevelopment Authority for an additional 30 years.
As part of an initiative to promote the development of small businesses among low-income families, the Economic Development Bank for Puerto Rico and the Family Department's Socio-Economic Development Administration, known as ADSEF, have joined forces help those participating in the islandwide Economic and Social Rehabilitation program.
BlueMountain Capital Management, LLC filed a lawsuit on Tuesday against the government of Puerto Rico, challenging the legality of a new law that allows certain public corporations to avoid their debts.
Gov. Alejandro García-Padilla and members of his fiscal team faced investors during a webcast Thursday, during which they defended the administration’s strategy thus far to turn around the island’s grim financial situation.
High-ranking Gov. García-Padilla administration officials came out once again in defense of recent decisions aiming to boost Puerto Rico’s credit and ensure long-term fiscal and economic sustainability — most of which have generated strong backlash from stateside ratings agencies.
The cash-strapped Puerto Rico Electric Power Authority announced Monday it had reached an agreement with lenders who provide revolving lines of credit used to pay for purchased power, fuel and other expenses.
Women represent 54 percent of Puerto Rico’s public-sector workforce, while the median age of all government workers is 45 years old, according to a study released by the island’s Statistics Institute over the weekend.
The Puerto Rico Treasury Department announced Tuesday it has submitted the Commonwealth’s audited financial statements for the fiscal year 2012-2013 that ended June 30, 2013.
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.
Gov. Alejandro García-Padilla announced Wednesday the filing of a bill to establish the framework to allow Puerto Rico corporations in fiscal troubles to conduct an organized restructuring of their debt.
The Puerto Rico Electric Power Authority’s chronic foot-dragging on allowing individuals and businesses to connect their renewable energy systems to the grid is causing the island to lose out on federal funding opportunities available from the U.S. Department of Agriculture’s Rural Development agency, this media outlet confirmed.
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