HUD ANNOUNCES SECOND DISASTER RECOVERY GRANT AGREEMENT WITH PUERTO RICO, MAKING $8.2 BILLION AVAILABLE
WASHINGTON – U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson today formally announced a grant agreement with Puerto Rico, making an additional $8.2 billion available to Puerto Rico to help with disaster recovery efforts.
"Now that proper financial controls are in place, implementing the second phase of Puerto Rico's disaster recovery program can move forward with an extension to its line of credit,” said Secretary Carson. “Additional oversight was needed before we could proceed with confidence that these critical disaster recovery funds will reach those who need them the most. HUD looks forward to working with Vivienda as they continue their recovery process. With this unprecedented amount of capital, it is our firm hope and expectation that Puerto Rico will become the jewel of the Caribbean.”
Additionally, HUD will soon publish a notice in the Federal Register that will provide Puerto Rico with the guidelines for establishing its plan to use long-term mitigation funds appropriated by Congress. Puerto Rico's long-term recovery is supported through HUD's Community Development Block Grant—Disaster Recovery (CDBG-DR) Program, which requires grantees to develop thoughtful recovery plans informed by local residents. Learn more about CDBG-DR and the State's role in long-term disaster recovery (en español).