Puerto Rico News Digest For October 13, 2014

HURRICANE WATCH IN EFFECT FOR PR

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Puerto Rico and the U.S. Virgin Islands are under
a Tropical Storm Warning and a Hurricane Watch this
morning as Tropical Storm Gonzalo approaches the area.
As of 8:00AM AST, the center of Gonzalo was located
near latitude 17.0N, longitude 61.5 W, about 310 miles
southeast of San Juan. The storm is moving west at 10mph,
with sustained winds of 60 mph. Minimum central pressure
is 993 millibars.

Tropical Storm Gonzalo is expected to become a hurricane
tonight or Tuesday, with northeastern Puerto Rico expected
to see the most effect. Reconnaissance aircraft is currently
investigating the storm. It is recommended that all storm
preparations be completed before the end of today, and all
Puerto Rico residents are advised to stay away from shore
and avoid the use of maritime vessels.

More information HERE.

Man Gunned Down on Avenida De Diego

El Nuevo Dia reports that an unidentified man was shot
to death on De Diego Avenue in San Juan, near Piñero
Avenue, at around 6:10 AM this morning. The man's body
was found by police after gunshots were heard in the area.
De Diego Avenue remains closed while police investigate.
This is the 522nd murder in Puerto Rico so far this year.

Hacienda Seeks To Raise Revenue To Pay Doral

El Vocero reports that the island's Internal Revenue Department
('Departamento de Hacienda') will have to raise additional
revenues over the next three quarters in order to pay Doral
Bank $229.8 million, after the San Juan Superior Court declared
that the agreement the department reached with the bank in 2012
for a large tax refund was valid. Hacienda has a budget for the
2014-15 fiscal year of $187 million, and is expected to have to
disburse $45 million a year for 5 years to Doral. The payments
are expected to be at least partially financed by the sale of
Puerto Rico government bonds, $1.2 billions' worth of which
recently hit the market. The court's ruling, however, will be
appealed by the Puerto Rico government.

Small Businesses Chosen For Roosevelt Roads

From News Is My Business:


The Roosevelt Roads Redevelopment Authority announced the
selection of eight microbusinesses from Puerto Rico’s eastern
flank to establish operations inside the former Navy base
that is currently being repurposed for public access.

Six contracts have already been signed, with two pending to
be signed “soon,” to develop projects related to eco-tourism,
nature-related tourism, recreational and/or complementary
activities at nine structures spanning some 30,000 square
feet of space within the sprawling Ceiba property,
Redevelopment Authority Executive Director Malu Blázquez-
Arsuaga said Tuesday.