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COR3 Office disburse $237M+ in recovery funds on 1st day as FEMA funds monitor

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 approved by FEMA.

The beneficiaries of the recent round of funding are: the towns of Salinas, Yabucoa and San Lorenzo; the Department of Public Security, the Puerto Rico Police Department; the Housing Department; the Puerto Rico Electric Power Authority; and the Cardiovascular Center of Puerto Rico and the Caribbean.

Earlier this month, COR3 assumed the responsibility for reviewing and approving the reimbursement of the recovery funds. This disbursement marks the first time that Puerto Rico, similar to almost all other jurisdictions, is responsible for this process. 

With the reduction of FEMA’s manual procedures that eliminate bureaucracy and additional time to the process, COR3 can now accelerate the flow of federal funds to secondary beneficiaries and communities to accelerate the pace of recovery, he said.

“COR3 will continue to eliminate the additional measures that apply to Puerto Rico, such as FEMA’s manual reduction process, which delays our ability to recover,” said Marrero.  

In addition, he added, “the agreement with FEMA, the responsibility and disbursements are proof that Puerto Rico is ready, and we can manage our own recovery. The disbursements, by the COR3 office of these critical funds are an important step forward in our support to subrecipients and continue working to achieve greater speed and effectiveness in the disbursement of the funds.”

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.

Omar Marrero, executive director of the office known as COR2 in Spanish, said the disbursements were achieved in compliance with federal policies and procedures approved by FEMA.

The beneficiaries of the recent round of funding are: the towns of Salinas, Yabucoa and San Lorenzo; the Department of Public Security, the Puerto Rico Police Department; the Housing Department; the Puerto Rico Electric Power Authority; and the Cardiovascular Center of Puerto Rico and the Caribbean.

Earlier this month, COR3 assumed the responsibility for reviewing and approving the reimbursement of the recovery funds. This disbursement marks the first time that Puerto Rico, similar to almost all other jurisdictions, is responsible for this process. 

With the reduction of FEMA’s manual procedures that eliminate bureaucracy and additional time to the process, COR3 can now accelerate the flow of federal funds to secondary beneficiaries and communities to accelerate the pace of recovery, he said.

“COR3 will continue to eliminate the additional measures that apply to Puerto Rico, such as FEMA’s manual reduction process, which delays our ability to recover,” said Marrero.  

In addition, he added, “the agreement with FEMA, the responsibility and disbursements are proof that Puerto Rico is ready, and we can manage our own recovery. The disbursements, by the COR3 office of these critical funds are an important step forward in our support to subrecipients and continue working to achieve greater speed and effectiveness in the disbursement of the funds.”

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This story was written by our staff based on a press release.

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