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Puerto Rico Department of Housing Proposes to Increase Financial Aid

Caribbean Business | August 9, 2021

Puerto Rico Department of Housing Secretary William Rodríguez presented a draft of an Amendment to the Action Plan of the Community Development Block Grant Program (CDBG-DR) that would raise the financial aid ceiling for purchasing homes to $55,000 and small businesses to $150,000.

The amendment to be presented to the United States Department of Housing and Urban Development (HUD) includes the Blue Roof Repair Program in the portfolio of recovery programs in Puerto Rico. Likewise, it will modify the Repair, Reconstruction, or Relocation Program (R3) to include the elevation of homes as permitted construction activity.

“Through this amendment that we are presenting, we want to update the offerings of the CDBG-DR Program to meet the current needs of citizens at this time. With the Blue Roof Repair Program, this government administration wants to address a prevailing need in Puerto Rico, in addition to increasing aid for entrepreneurs and people seeking to acquire a new home, ” Rodríguez said.

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