2003 Section 108 Project Summary - Puerto Rico

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Public Facilities

Public Facilities Improvements
BORROWER: BAYAMON
STATE: PR
COMMITMENT AMOUNT: $32,000,000

The Municipality of Bayamón, Puerto Rico has been awarded a $32,000,000 loan guarantee under Section 108 to assist in six public facilities projects that will be undertaken by the Municipality in order to improve aging infrastructures and public facilities. The projects include a parking garage adjacent to the newly constructed Urban Train Main Station, rehabilitation of the aging Ruben Rodriquez Coliseum and Rio Hondo Market, extension of Los Dominicos Avenue, and improvements to existing recreation facilities at Paseo Lineal Rio Bayamón and in the Caridad sector of the Municipality. These are eligible activities of construction, reconstruction and installation of public facilities and other public improvements. The proposed activities will meet the criteria for the national objective of benefit to low- and moderate-income persons through area benefit.

Town Center Infrastructure Rehabilitation
BORROWER: BARCELONETA
STATE: PR
COMMITMENT AMOUNT: $5,500,000

The Municipality of Barceloneta, PR, will use Section 108 loan guaranteed funds for acquisition, rehabilitation, relocation, and economic development activities for the Town Center project. These funds will be used by the Municipality for the acquisition and rehabilitation of 20 properties and project- related infrastructure improvements. These funded activities will provide 14,000 square feet of commercial rental space, 11 rental housing units, 350 parking spaces, installation of utilities, and improvements to sidewalks and streets. The commercial space is anticipated to create 65 jobs for low- and moderate-income persons.

Municipal Public Safety Complex
BORROWER: TRUJILLO ALTO
STATE: PR
COMMITMENT AMOUNT: - $4,000,000

Guaranteed Loan funds will be used by the Municipality of Trujillo Alto for the following five projects, all of which will provide benefit to low- and moderate-income residents:

1. Construction of Public Safety Complex ($1,700,000): This activity will consist of construction of the municipal public safety complex for emergency systems.
2. Parque Familiar ($1,000,000): This activity will include improvements and expansion to an active recreational park facility that is located in an area near the central part of town. Part of the property is currently being used as a horsemanship park with more than half of its land available for improvements.
3. Acquisition and Construction of Museo and Casa de la Cultural ($700,000):The Municipality will acquire 2,100 square feet of this partially vacant lot for the construction of a three story building that will house a cultural center.
4. Acquisition and Rehabilitation of Former PRIDCO Building ($300,000): This activity will consist of acquisition of an 11,586 square foot industrial building that is currently vacant, and the rehabilitation into a facility that will provide state social services such as family services, counseling, etc.
5. Acquisition of Land Near Parque Kennedy Hills for Parking Facilities ($300,000): Section 108 funds will be used to acquire vacant property and construct parking. The proposed project will provide 200 new parking spaces including 20 spaces for physically challenged persons.