(San Juan, P.R.) The secretary of the Department of Housing, Luis Fernández Trinchet, announced that last Friday, June 26, the Financial Oversight and Management Board (FOMB) certified Amendment 4 to the Action Plan and budget for the second agreement of the Community Development Block Grant – Disaster Recovery (CDBG-DR) Program, effective on March 31, 2020.
According to FOMB’s executive director, Natalie Jaresko —in a letter to the United States secretary of Housing, Ben Carson,— the action plan and budget of the program comply with the fiscal plan approved for the Government of Puerto Rico.
“FOMB’s certification of our action plan is great news, it gives us the green light to the process of making these funds available for Puerto Rico’s reconstruction and development in the wake of hurricanes Irma and Maria. There are many projects and assistance available under this program, thus, it is important that we continue our efforts to obtain such funds,” stated Fernández Trichet.
Secretary Fernández also thanked “Governor Wanda Vázquez Garced, whose continuous support in this process has been vital. We will continue working in conjunction with the Board to promote Puerto Rico’s economic development.”
As per the grant agreement with the United States Department of Housing and Urban Development (HUD), the Department of Housing must present its action plan and budget to certify its compliance with the fiscal plan and the budgets of the Government of Puerto Rico approved by the FOMB.
The Department of Housing must present to HUD the certification issued by the FOMB, together with the corresponding comments and recommendations.
The Action Plan’s review and analysis were carried out in accordance with the policy for reviewing the action plans and budgets related to the Government of Puerto Rico and in compliance thereof with the budgets and action plans certified by the Financial Oversight and Management Board.
The CDBG-DR Program seeks to assure decent and affordable housing opportunities, provision of services, assistance to the most vulnerable in our communities, as well as the expansion and conservation of jobs.
This Program is funded by HUD’s Community Development Block Grant – Disaster Recovery Program in order to support disaster recovery activities, including housing development and reconstruction.