Executive director of COR3 Manuel A. Laboy Rivera.
By THE STAR STAFF
The amount of reconstruction projects connected to the damages from Hurricane Maria and the 2020 earthquakes funded by the Federal Emergency Management Agency (FEMA) has risen from July to September, stated Manuel A. Laboy Rivera, executive director of the Central Office of Recovery, Reconstruction and Resilience (COR3).
This information was disclosed in a Quarterly Progress Report.
“The support we at COR3 provide to municipalities, non-profit organizations, and government bodies has been crucial in advancing reconstruction projects to completion. The latest Quarterly Progress Report completed by municipalities, government entities, and non-profits reveals that there are 10,137 ongoing reconstruction projects stemming from the Hurricane Maria disaster and the earthquakes, with $13.1 billion in FEMA funding, showing an increase of 2,096 additional projects in progress compared to the same quarter in 2023,” Laboy Rivera elaborated.
The Quarterly Progress Report also noted a 64% rise, totaling 3,877 completed projects with estimated investments of $793.1 million. As of September 2023, there were 2,358 reported completed projects with approximate costs of $525.4 million.
For instance, among the projects finalized in the third quarter of 2024, are: the Central Laboratory of the Water and Sewer Authority, located in Caguas. This is the sole laboratory in the Caribbean accredited by the Environmental Protection Agency (EPA) and the Department of Health for conducting essential water quality testing. Other completed projects include the Punta Salinas Spa in Toa Baja, the Manuel González Theater in Lajas, and the Félix Herrera Cruz sports complex in Yabucoa, among others.
When contrasting the data with the previous quarter from April to June 2024, the leading entities reported 546 additional projects between the design and construction phases, indicating an extra $1,277 million in investment. Additionally, 327 projects ($95.2 million) joined the completed category.
“The progress of the projects has been steady. When comparing the current timeframe with the same period in 2022, approximately 4,535 more projects have been advanced. This translates to an increase of $8,684 million in investment. For completed projects, there has been a 173% surge. As a consequence of the accelerated project development, the Economic Development Bank reported that cement sales in October rose by 15.2%, and in September, employment in the construction sector grew to 37,500, reflecting a 4.7% increase,” Laboy Rivera stated.
