Puerto Rico News Digest For October 30, 2015

GOVERNOR DENIES NOT RUNNING IN 2016

From The San Juan Daily Star:

"Gov. Alejandro García Padilla denied through his Twitter account on
Wednesday rumors that he will not seek re-election under the Popular
Democratic Party (PDP) banner. Sources told the STAR that the Gover-
nor was planning to announce this week through a televised message that
he was not seeking re-election. “He is seriously thinking about not runn-
ing, in part because of the economy,” a source said..."

GDB CASH RESERVES DWINDLING

From Fox News Latino:

"The government bank responsible for issuing Puerto Rico's bonds said
Wednesday that its liquidity has dropped below $1 billion as concerns
grow it won't be able to make a large upcoming bond payment amid the
U.S. territory's economic crisis. The Government Development Bank said
its liquidity stood at $875 million at the end of September...Investors and
economists are now questioning whether the bank will be able to meet a
$355 million bond payment due Dec. 1 given its dwindling funds..."

USDA GIVES PR $120K FOR RURAL HOUSING

From News Is My Business:

"Agriculture Secretary Tom Vilsack announced today that USDA is in-
vesting $3.7 million to help rural families repair and rehabilitate their ho-
mes across 46 states and Puerto Rico, where 10 towns will equally split
$120,280. The funds are being awarded through the Housing Preserva-
tion Grant program to support the renovation of 1,147 units, the federal
agency said..."

NEW FARMERS MARKETS IN TRAIN STATIONS

From Caribbean Business:

"Gov. Alejandro García Padilla said Thursday that various Urban Train
stations and Maritime Transport Authority boat terminals will be trans-
formed into urban markets for the sale and purchase of Puerto Rico-made
products. The public will be able to buy hand-made products and locally
harvested produce at the Martínez Nadal, Sagrado Corazón, Deportivo and
Bayamón train stations, as well as at the Cataño and Fajardo boat termi-
nals. The farmers markets will be held from 8 a.m. to 3 p.m. on Oct. 30,
Nov. 20, Dec. 18, Jan. 29 and Feb. 26. A market for women entrepreneurs
will be held from 12 p.m. to 5 p.m. on Nov. 13 and Dec. 15..."

Puerto Rico News Digest For September 4, 2015

GANGS TURN AVENUE INTO WARZONE

65th Infantry Avenue Closed For Three Hours

As reported by El Nuevo Dia, Police had to close off a stretch of 65th

Infantry Avenue in Rio Piedras as gang members from  Monte Hatillo

public housing project and the Berwind apartment buildings across the

road traded gunfire on Wednesday night. No deaths or injuries have
been reported as a result of the gunfire. A local school had to be eva-

cuated yesterday due to threats of further violence in the area. Police

believe that the latest outburst of violence came about due to the recent

murder of Héctor Nussa Román, who was the stepbrother of the alleged

head of drug sales in Monte Hatillo. Shootings in the area are sporadic,

but have been happening for years.

CARRAIZO GOES TO TWO-DAY RATIONING

Puerto Rico's water utility, AAA, has announced that water levels at the
Carraízo reservoir -- which serves Trujillo Alto, Carolina and parts of San
Juan -- is now high enough that water rationing for areas served by Carraí-
zo is being cut back to two days without water and one day with water. The
change begins today, after several weeks of water users being restricted to
two days of running water a week. About 160,000 AAA customers would
be affected by the change. Recent rains have swollen Carraízo's level to 37.
14 meters. Users of the La Plata reservoir are still also under "phase two"
water restrictions, with water off for two days at a time.

PREPA DEAL CAPS RATE HIKE AT 8¢

From The San Juan Daily Star:

The hike that Puerto Rico consumers will see in their electricity bill, which
must be approved by the Energy Commission, is not going to be higher than
the eight cents estimated in a five-year business plan prepared by the Puerto
Rico Electric Power Authority (PREPA) following an agreement reached with
the Ad Hoc Group of bondholders. PREPA Chief Restructuring Officer Lisa
Donahue said the final rate structure will be determined by the outcome of
talks with the other PREPA creditors -- banks and the utility’s insurance com-
panies. Those talks are expected to be completed by Sept. 18, which is when
the forbearance agreement between PREPA and its creditors is expected to
expire. TheAd Hoc Group represents 35 percent of the debt.

ARECIBO INCINERATORS GETS FINAL PERMIT

From News Is My Business:

Energy Answers confirmed Wednesday that the Puerto Rico Environmental
Quality Board has granted the final permit to build a facility for the processing
of non-hazardous solid waste at the Cambalache Sector in Arecibo. The review
process of this permit began in 2012 under the administration of Gov. Luis For-
tuño and included two separate public hearings and extended periods of time for
comment in writing, ensuring broad public participation in the permitting pro-
cess. “The periods for written comments exceeded by far the established regu-
latory requirements and what is usual and customary for a facility handling so-
lid waste as proposed,” the company said.

USDA DESIGNATES 17 TOWNS DISATER AREAS

From Caribbean Business:

Although Puerto Rico has received much-needed rain in the past week, primari-
ly due to Tropical Storm Erika and a tropical wave, the U.S. Department of Agri-
culture has declared an additional 17 municipalities in Puerto Rico as natural di-
saster areas due to the ongoing drought conditions. These additional municipali-
ties are: Aguas Buenas, Aibonito, Bayamón, Cataño, Ceiba, Coamo, Comerío,
Dorado, Guaynabo, Loíza, Naguabo, Naranjito, San Juan, Santa Isabel, Toa Al-
ta, Toa Baja  and Vega Alta.

Puerto Rico News Digest for August 13, 2015

CARRAIZO ALMOST OUT OF SERVICE

As a long drought continues to punish Puerto Rico, the Carraízo water
reservoir -- which serves much of the San Juan metro area -- has dropped
26 centimeters today, leaving it  3.34 meters away from being rendered as
inoperable. The La Plata reservoir went down 11 centimeters since yester-
day. Carraízo water customers are currently being subjected to three-day
water rationing due to the low levels. Levels for all major reservoirs are
shown in the above graph. Carraízo is on the far left.

GOV'T LAWYERS CONSIDER JANUARY SCENARIOS

From The San Juan Daily Star:

Government lawyers are analyzing all the possible scenarios to determine
which debt can be left unpaid and which can not. The recent default on a
$58 million debt of the Public Finance Corporation on Aug. 1 was actually
a calculated move because the government knows that bondholders had li-
ttle legal recourse because it is a moral obligation that depends upon a leg-
islative appropriation, sources said. Regarding other types of debt, bond-
holders can expect a recovery rate between 35 to 65% on a series of diffe-
rent bonds traded by Puerto Rico in the event of a default, according to in-
formation compiled by Bloomberg. The publication reported on data conta-
ining the most recent trading prices of bonds that aren’t insured against
default.

USDA: 13 CITIES DECLARED DISASTER AREAS

From Caribbean Business:

The U.S. Department of Agriculture (USDA) has designated 13 municipali-
tiesin Puerto Rico as primary natural disaster areas due to damages and lo-
sses caused by a recent drought. Those municipalities are Arroyo, Fajardo,
Patillas, Canovanas, Las Piedras, Río Grande, Carolina, Luquillo, Trujillo
Alto, Cayey, Maunabo, Yabucoa and Cidra. Farmers and ranchers in the fo-
llowing municipalities in Puerto Rico also qualify for natural disaster assis-
tance because their municipalities are contiguous. Those municipalities are
Aguas Buenas, Comerio, Loiza, Aibonito, Guayama, Naguabo, Barranquitas,
Gurabo, Salinas, Caguas, Humacao, San Juan, Ceiba, Juncos and San Loren-
zo.

PR PREPARES FOR MASS GAY WEDDING

From US News & World Report:

More than 60 gay couples are preparing to exchange vows at a mass wedding
in Puerto Rico, celebrating a U.S. Supreme Court ruling affecting the socia-
lly conservative U.S. territory, organizers said Wednesday.Most of the cou-
ples are Puerto Ricans, but others from Haiti, the Dominican Republic, Cuba
and Venezuela also are participating in the event scheduled for Sunday in
San Juan's colonial district. "This is a historic event for all of Puerto Rico,"
said organizer Ada Conde, an attorney who had filed a federal lawsuit seek-
ing to have her gay marriage recognized in the U.S. territory prior to the Su-
preme Court decision. "This is not a show. This is not a parade. This is a so-
lemn event to celebrate the fruit of our sacrifice." Conde said she anticipated
protests and noted that police officers would be posted at the ceremony.