Puerto Rico

NH&RA News

NH&RA Hosts ICAST IRA & BIL Instant Benefit Estimate Calculator

ICAST’s IRA & BIL Instant Benefit Estimate Calculator is now available on NH&RA’s website under the Resources section.

New Jersey

Equitable Path Forward: Advisory Services Available for BIPOC Developers in NY, NJ, PR and VI

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 Reminder on Disaster Preparedness Plans

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.

General News

HUD Publishes Puerto Rico’s CDBG-MIT Notice

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.

Member News

Michaels Opens Caribbean Office, Welcomes New Regional Vice President

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.

Member News

McCormack Baron Salazar’s Renaissance Square Welcomes Residents

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.


HUD Awards $28 Billion in CDBG Disaster Recovery Funds

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

General News

CRA Credit to be Given for Revitalization Activities in U.S. Virgin Islands and Puerto Rico Following Hurricane Maria

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 […]

QAP Washington

IRS Divides $2.59M of Unused 2015 LIHTCs Among 30 States

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

General News

CDFI Fund Releases NMTC Eligibility Data for 2010 Census Tracts in Island Areas

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).