Op-Ed: A decision-making tool for choosing an airport developer
February 22, 2021
A lot of industry experts agree with the Puerto Rico government’s decision to halt granting the operation and maintenance of all island regional airports to a single administrator, that instead, the best option was to look at each airport’s development opportunities. Soon after this announcement, the administrator of the Puerto Rico Public-Private Partnerships Authority, Fermin […]
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Treasury Secretary to pull double-duty as government CFO
February 22, 2021
Gov. Pedro Pierluisi announced Sunday he has appointed Puerto Rico Treasury Secretary Francisco Parés as the government’s chief financial officer, to prioritize the completion of the audited financial statements. His appointment is effective immediately. “It’s necessary to have an accurate map of our finances to be able to responsibly establish the fiscal solutions we need,” […]
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Puerto Rico Housing and Human Development Trust grants $50K
February 22, 2021
The Puerto Rico Housing and Human Development Trust (FIDEVI, in Spanish) awarded $50,000 to the Puerto Rico Volunteer Organization of Engineers and Professionals (VIPR, in Spanish) to support several housing assistance projects in southwestern Puerto Rico affected by the earthquakes that have occurred since 2020. A total of 100 families that have damaged homes due […]
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3rd Coast Guard Exchange store to open in Caguas
February 19, 2021
The third Coast Guard Exchange location in Puerto Rico is scheduled to open in the summer in Caguas, the Coast Guard confirmed to this media outlet. The new 22,000 square foot CGX store is located at the Las Catalinas North Shopping Center, next to Burlington. CGX expects to hire 40 employees from the local area […]
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FEMA funds will go to replace 63 cameras on Baldorioty de Castro Ave.
February 19, 2021
The Federal Emergency Management Agency’s recent award of $1.3 million to the Puerto Rico Police seeks to address damages caused by Hurricane María to several police facilities throughout the island, the agency confirmed. This obligation pushes to $45 million the FEMA funds earmarked for repairing stations, replacing essential police equipment and video system equipment on […]
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Puerto Rico airports get $8.5M Coronavirus Response grant from FAA
February 19, 2021
The Federal Aviation Administration approved a second grant to the Puerto Rico Ports Authority for $8.5 million as part of a new round of the Airport Coronavirus Response Grant Program to provide aid during the COVID-19 pandemic, agency Executive Director Josel Pizá-Batiz said. “This new grant will provide economic relief the Ports Authority’s nine airports […]
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Puerto Rico Coliseum completing $2.2M in projects ahead of reopening
February 19, 2021
The Coliseo de Puerto Rico José Miguel Agrelot in Hato Rey is preparing for its reopening and the resumption of events and concerts with the completion of 14 improvement projects at an investment of $2.2 million, Mariela Vallines, executive director of the Conventions District, which oversees the venue. “In addition, 27 other necessary improvement projects […]
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Trio of appointments and a retirement in this week’s Corporate Ladder
February 19, 2021
A long-time executive is retiring and is being succeeded at Popular Inc., while two executive appointed at a credit card company and the Puerto Rico Junior Chamber of Commerce are featured in this edition of Climbing the Corporate Ladder. Rullán to retire from Popular Inc.; González-Noguera to succeed herTeruca Rullán, senior vice president in charge […]
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Bureau of Transportation and other Public Services moves into new HQs
February 19, 2021
The Chairman of the Public Service Regulatory Board (JRSP, in Spanish), Edison Avilés-Deliz, announced that earlier this week, the operational offices of the Bureau of Transportation and other Public Services (NTSP, in Spanish) have moved into new headquarters at Stop 18 in Santurce. This is the same building that houses the Telecommunications Bureau’s offices. The […]
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Plaza Centro 1 owner faces $24.6M collection and foreclosure lawsuit
February 18, 2021
Plaza Centro 1 shopping center, owner MJS Caguas Limited Partnership, faces a $24.6 million collection and foreclosure lawsuit from U.S. Bank National Association, filed last week in the Caguas Superior Court. The lawsuit corresponds to an outstanding $28 million loan originated by Canadian Imperial Bank of Commerce in January 2011. The loan is payable on […]
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SBA has approved $283.8M in PPP loans in Puerto Rico since Jan. 11
February 18, 2021
The U.S. Small Business Administration’s Paycheck Protection Program has approved $283.8 million in loans in Puerto Rico and another $171.2 million in the US Virgin Islands through the week of Feb. 15, it confirmed in a report. The second round of funding began on Jan. 11, and so far, participating local credit unions and banks […]
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Acrecent Financial Corp. closes $13M credit line for Puerto Rico Hospital Supply
February 18, 2021
Acrecent Financial Corp. announced it partnered with BluHaus Capital, Puerto Rico Fund for Growth, and Farragut Capital Partners to extend a $13 million bridge loan to Puerto Rico Hospital Supply. Since its founding in 2004 Acrecent has consistently made credit accessible to small- and mid-sized enterprises (SMEs) — at times against challenging backdrops including the […]
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Discover Puerto Rico focused on attracting ‘responsible’ travelers
February 18, 2021
Puerto Rico’s Destination Marketing Organization, Discover Puerto Rico, has been following the pent-up demand that has been building up among people who have been unable to travel but are still dreaming of their next vacation. The organization’s focus has been inspiring responsible travelers by positioning Puerto Rico as a safe destination, while keeping the brand […]
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Fundación CAP announces virtual ‘Pásate la Máquina Challenge’ fundraiser
February 18, 2021
On April 14, thousands of people will have the opportunity to join in a massive head shave and hair donation — in a virtual format — in solidarity with pediatric cancer patients and the medical and nursing staff of the Pediatric Hospital in the Río Piedras Medical Center. The “Pásate la Máquina Challenge” is a […]
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Treasury Dept.: 30K taxpayers still waiting for $600 COVID-19 aid checks
February 17, 2021
An estimated 30,525 taxpayers have not received the disbursement of the $600 financial stimulus, reportedly due to errors in their bank information, Treasury Department officials said. “They must have received a message, either by email or through the platform, indicating a rejection [of the deposit] by the bank. They have to update their bank information […]
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