On July 30th, HUD Secretary Dr. Ben Carson announced the approval of a $1.5 billion disaster recovery plan that had been previously been submitted to the Department by the Government of Puerto Rico. Funding for Puerto Rico’s disaster recovery plan will come from HUD’s CDBG-DR Program.
Notably, the bulk of the plan ($1 billion) is to be allocated towards rebuilding the housing stock that was lost in Puerto Rico due to Hurricane Maria, with qualified homeowners set to receive $120,000 to rebuild their homes. The housing investment allocation in the disaster recovery plan also includes $10 million in funding for rental assistance for the elderly, and $100 million to act as additional gap funding alongside LIHTCs for eligible projects.
HUD’s announcement
Puerto Rico’s disaster recovery plan
