Puerto Rico Recoverable Grant Agreement is a financial assistance program established to facilitate recovery and development efforts in Puerto Rico following natural disasters or other emergencies. This grant agreement falls under the purview of the Federal Emergency Management Agency (FEMA) and aims to provide funding to support the rebuilding, reconstruction, and revitalization of infrastructure, public services, and communities in Puerto Rico. The Puerto Rico Recoverable Grant Agreement enables the government of Puerto Rico to receive financial assistance from FEMA and other relevant federal agencies. This agreement typically includes detailed terms and conditions, eligibility criteria, reporting requirements, and the timeline for the use of funds. It is designed to ensure accountability and transparency in the utilization of the granted funds. There are different types of Puerto Rico Recoverable Grant Agreements, which can vary depending on the nature of the disaster or emergency, as well as the specific needs and priorities of Puerto Rico. Some common types may include: 1. Disaster Recovery Grant Agreement: This type of agreement focuses on providing financial support for a broad range of recovery efforts such as infrastructure repair, housing assistance, public health initiatives, and economic revitalization after a natural disaster like hurricanes, earthquakes, or floods. 2. Mitigation Grant Agreement: These agreements are focused on implementing measures to reduce the risks and impacts of future disasters. They support various projects related to hazard mitigation, infrastructure improvement for resilience, and public education and awareness campaigns. 3. Public Assistance Grant Agreement: This type of agreement specifically targets government entities and certain non-profit organizations to aid in the restoration of public services and facilities like schools, hospitals, roads, bridges, and utilities in the aftermath of disasters. 4. Hazard Mitigation Assistance Grant Agreement: These agreements aim to finance projects that help communities become more resilient to future natural disasters. Examples include the construction of flood barriers, elevation of critical structures, and implementation of early warning systems. In summary, Puerto Rico Recoverable Grant Agreement is a crucial mechanism that enables Puerto Rico to access federal financial support for comprehensive recovery and mitigation efforts. By acquiring these funds, Puerto Rico can effectively rebuild and enhance its infrastructure, public services, and overall resilience to minimize the impact of future disasters.
Puerto Rico Recoverable Grant Agreement
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Omar J. Marrero Diaz received a B.B.A. in Business Administration with a double concentration in Accounting and Finance from the University of Dayton (Ohio). He received his Juris Doctor degree from the Interamerican University of Puerto Rico, from where he graduated Summa Cum Laude.
Section 428 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act, as amended, (Stafford Act)1 authorizes FEMA to award Public Assistance (PA) funding based on fixed estimates.
Puerto Rico Secretary of the Treasury Francisco Pares Alicea said income exceeded expenditures in fiscal 2023. The board's revised projection for fiscal 2023 revenues, released on April 3 ? $12.89 billion ? was 0.9% higher than collections.
The term "Hacienda" means the Department of the Treasury of the Commonwealth of Puerto Rico.
Janet YellenIncumbentAssumed office January 26, 2021PresidentJoe BidenDeputyWally Adeyemo56 more rows