Last April 9th U.S. Department of Housing and Urban Development’s Deputy Secretary, Pamela Hughes Patenaude, along with Congresswoman and Resident Commissioner, Jenniffer González- Colón, met with the Puerto Rico Builder’s Association’s (PRBA) leadership along with the Mortgage Bankers Association (MBA), Puerto Rico Chapter, the Puerto Rico Bankers Association, and Puerto Rico Real Estate Landlord Association.
During the meeting the group spoke about the status of Puerto Rico’s recovery and reconstruction process after hurricanes Irma and María made landfall last September. Among other topics, Hughes Patenaude made a significant announcement of $18.4 billion to be granted by HUD to support long-term disaster recovery for Puerto Rico. It is hoped that this grant will help rebuild communities impacted by past disasters and protect them from major disasters in the future.
The funds are to be provided through the Community Development Block Grant Disaster Recovery Program (CDBG-DR), which grants support to a variety of disaster recovery activities including housing redevelopment and rebuilding, business assistance, economic revitalization, and infrastructure repair.
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