Citi Community Development and Four Local Housing Organizations Announce Major Initiative to Support Post-Hurricane Housing Recovery in Puerto Rico - Seite 2

Hurricane Maria struck Puerto Rico on September 20, 2017—two weeks after Hurricane Irma—leaving behind massive devastation to vital infrastructure, property and homes.

In some communities, 80 to 90 percent of homes were completely destroyed, and hundreds of thousands of housing units across the island were severely damaged, often leaving low-income families particularly hard hit. Thousands of Puerto Ricans were displaced to shelters, and many forced to stay with family members or move into hotels, while more than 200,000 have relocated to the U.S. Research conducted by Enterprise Community Partners shortly after the storm estimated that more than 150,000 (roughly 10 percent) of homes will need to be rebuilt, and tens of thousands will need to be repaired.

“During nearly 100 years in Puerto Rico, Citi has strived to support the development and progress of all of the Commonwealth’s communities,” said Guillermo Gomez, Citi’s Chief Officer for Puerto Rico. “This new investment will ensure residents, especially those living on lower incomes, get the housing support they urgently need, and is a further demonstration of Citi’s commitment to Puerto Rico and its ongoing recovery and renewal.”

At the time of the storms, Puerto Rico was already in a decade-long economic recession, with nearly half of residents living below the poverty line; according to a recent survey conducted by the Census Information Center at the University of Puerto Rico in Cayey, the poverty rate could potentially reach 59.8 percent given the length of recovery.

Collectively, the organizations aim to serve an estimated 2,000 individuals and families, and will also support the reconstruction of nearly 100 homes. In addition, PathStone will provide assistance to over 85 small business owners whose businesses were badly damaged and whose incomes have been severely disrupted.

Blanca Vélez Beachamp, Executive Director, Puerto Rico, N.H.S., Corp. said, “After visiting our facilities impacted by Hurricane María, and assessing the priorities and needs of our communities, we started by providing them with comfort - hugs, water and food – and showing them they were not alone and that we were there to help. In order to start offering our help, we needed committed partners who could understand the anguish of our people, and we went to Citi - our partner for 23 years. Immediately, Citi showed their commitment to help us. Our community needed many things, but the most urgent were roofs and houses where they could re-establish their homes.