HUD Releases $8.2B in Aid to Puerto Rico – DSNews
HUD Releases $8.2B in Aid to Puerto Rico
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U.S. Department of Housing and Urban Development (HUD) Secretary Dr. Benjamin Carson has announced the release of an $8.2 billion in aid to Puerto Rico to assist with disaster recovery efforts.
“Now that proper financial controls are in place, implementing the second phase of Puerto Rico’s disaster recovery program can move forward with an extension to its line of credit,” said Secretary Carson. “Additional oversight was needed before we could proceed with confidence that these critical disaster recovery funds will reach those who need them the most. HUD looks forward to working with Vivienda as they continue their recovery process. With this unprecedented amount of capital, it is our firm hope and expectation that Puerto Rico will become the jewel of the Caribbean.”
Robert M. Couch will serve as the Federal Financial Monitor to oversee the grant administration and disbursement process of disaster recovery funds to Puerto Rico and the U.S. Virgin Islands. Couch, who previously served as HUD’s General Counsel from December 2006 to November 2008 will join HUD as a career member of the Senior Executive Service.
“We are glad to have Robert re-join