HUD Gives $1.5B to Struggling Puerto Ricans

February 2, 2018

The U.S. Department of Housing and Urban Development announced it will award more than $1.5 billion to help Puerto Rico homeowners and local businesses recover from Hurricanes Irma and Maria. The funds, which are part of HUD’s Community Development Block Grant (CDBG) Disaster Recovery Program, will support long-term recovery efforts to repair the serious damages.

“As local leaders, along with their citizens, develop their recovery plans, HUD will reduce regulatory barriers and remove any unnecessary roadblocks to speed long-term recovery,” says HUD Secretary Ben Carson.

HUD’s own analysis has discovered thousands of middle- and lower income homeowners and renters who continue to face serious damage to their residences and who were not adequately insured or were uninsured at the time of the hurricanes. Numerous businesses were also damaged and did not have proper insurance to cover recovery costs. The grants from HUD will help meet needs that are not being met by private insurance or federal assistance. HUD will work with Puerto Rico officials to address the remaining unmet needs.

In early September, Hurricane Irma struck the island. A few days later, Hurricane Maria followed in its path, knocking out power across the island and causing the largest blackout in U.S. history.

Source: HUD