Puerto Rico

Enterprise Community Partners is launching  Equitable Path Forward: Advisory Services (EPF AS), a 24-month program that will support up to eight Black, Indigenous and people of color- (BIPOC) led affordable housing organizations enhance their capabilities and strengthen their operations. 

HUD Handbook 4350.1, Chapter 38, contains useful information about disaster preparedness and maintaining an up to date disaster plan. HUD asks owners to continue to keep them apprised of property conditions and vacancies.

HUD recently published a Community Development Block Grant Mitigation (CDBG-MIT) notice for the Commonwealth of Puerto Rico, which allocates $8.285 billion. The notice lists out guidelines for the CDBG-MIT program specific to Puerto Rico, which will enable them to develop and submit for approval their plans and ultimately receive their allocated mitigation funds.

The Michaels Organization announced that it has significantly expanded its presence in the Caribbean, with the opening of a new regional office in Puerto Rico. The office will be headed by Michaels’ newly named Regional Vice President, Larry Padilla, who will focus on the redevelopment of Michaels affordable portfolio in St. Croix and St. Thomas in the Virgin Islands, as well as on new affordable and mixed-income development opportunities in Puerto Rico.

McCormack Baron Salazar, Inc. and the Puerto Rico Department of Housing have officially opened Renaissance Square, a new mixed-income apartment community located in the Hato Rey Barrio of San Juan, Puerto Rico. Located in the heart of the San Juan’s Financial District’s “Golden Mile,” the community has walk-up and townhome-style apartment buildings with market-rate amenities, green energy-saving design, and resilient features.

The $28 billion is a record high and comes from congressional appropriations made by the Bipartisan Budget Act of 2018 (PL 115-123).

The announcement came last week in an interagency statement from the Federal Deposit Insurance Corporation, Federal Reserve Board of Governors, and Office of the Comptroller of the Currency: financial institutions will receive favorable Community Reinvestment Act (CRA) consideration for activities that revitalize or stabilize the U.S. Virgin Islands and Puerto Rico, regardless of where the […]

The Internal Revenue Service divided $2.59 million in unused Low Income Housing Tax Credits from calendar year 2015 among 30 states.

The Community Development Financial Institutions Fund (CDFI Fund) has released New Markets Tax Credit Program (NMTC Program) eligibility data for 2010 census tracts in the Island Areas of the United States (American Samoa, Guam, the Northern Mariana Islands, and the U.S. Virgin Islands).