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FIDEVI grants $100K for construction, rehab projects in Puerto Rico

The Fideicomiso de Vivienda y Desarrollo Humano de Puerto Rico (FIDEVI, in Spanish), announced the granting of $100,000 funds for rehabilitation and reconstruction projects to several nonprofit entities that serve affordable and accessible housing needs for very low-income and vulnerable populations.

The chosen projects are: Albergue El Paraíso, for its “El Edén” project in San Juan, which provides housing to economically disadvantaged homeless men with chronic conditions; FUNDESCO (Fundación de Desarrollo Comunal de PR), for its “Villas del Peregrino” project en Caguas, aimed at providing housing to people 55 or older with very low income; and the Fideicomiso de la Tierra del Caño Martín Peña, for its “Techo Digno” project, which addresses the needs of its members who have limited resources and particular needs for rehabilitation, reconstruction and/or minimal improvements in their homes.

The funds will be used for fence replacement work, pedestrian, and vehicular access gates to comply with the federal requirements of the Americans with Diabilities Act and to continue offering temporary housing services at the shelter.

The money will also go toward replacing kitchen and interior doors and cabinets, waterproofing roofs, replacing windows and/or doors, repairing pedestrian accesses, improving to bathrooms, installing of handles, fixing the electrical system and painting, among other improvements related to the use of housing that is currently in disuse, or close to becoming disused.

“At FIDEVI we have the firm commitment to continue participating proactively as an ally of the nonprofit sector, supporting projects for the development, rehabilitation, and reconstruction of accessible and affordable housing for vulnerable and needy populations throughout Puerto Rico,” said Annette Montoto, executive director of FIDEVI.

“The experience and expertise of our volunteer professionals, both in the field of finance and housing development, has enabled us to administer and grant funds in a diligent and responsible manner, quickly impacting communities and families that need it so much in Puerto Rico,” she said.

FIDEVI’s mission is to serve as a collaborative liaison with certified nonprofit organizations and allocate resources to close the affordable housing gap for communities in need.

The entity is the product of a collaborative alliance between the financial sector, the government, and nonprofit organizations, to promote and help communities, vulnerable and/or very low-income populations in the development, rehabilitation and preservation of adequate and safe housing that guarantee a better quality of life.

In recent years, FIDEVI has granted a total of $3.9 million, benefiting more than 700 homes through 38 projects to 24 organizations, serving more than 1,600 people/families with little or no financial resources in Puerto Rico.

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

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