HUD and Fortuño sign market-based housing plan

On October 6, 2010, HUD and the government of Puerto Rico signed in San Juan a technical-assistance agreement to design and implement a “market-based” housing plan. Governor Luis Fortuño and Secretary Shaun Donovan presented the Puerto Rico Housing Task Force, aimed at integrating HOME Investment Partnerships, McKinney-Vento (homeless assistance) and Community Development Block Grant (CDBG) with other public and private resources to improve conditions for those most in need.

HUD would provide: a comprehensive housing-needs assessment; identification of capacity gaps; improved financial management of HUD programs; a multi-year administration plan; and training to leverage federal funds with private capital. The Task Force committed to produce affordable housing for vulnerable populations (elders, people experiencing homelessness, HIV/AIDS), resolve pending HUD OIG findings after the assessment, use CDBG administrative funds within two years to strengthen local capacity, obligate HUD funds on time and adopt open, competitive processes for awards to subrecipients.

Technical-assistance agreement and Task Force creation ≠ disbursement of new grants nor automatic closure of OIG findings; “obligate on time” is a contractual goal, not proof of money already disbursed.

Source: U.S. Department of Housing and Urban Development. https://archives.hud.gov/news/2010/pr10-224.cfm