Program Description

Provides funds and administrative assistance to public corporations and other Puerto Rico government instrumentalities by issuing bonds, financing loans, total or partial payment of debts, concessions or cession of funds, assume obligations and grant technical assistance and administrative contracts to public corporations and other instrumentalities. Provides technical and financial assistance to priority infrastructure projects that have been identified by entities from the Government of Puerto Rico in order to develop their capital improvement programs.

• Speed up public corporations, municipal governments and other Puerto Rico government instrumentalities' capital improvement programs, and the development of projects in order to permit the improvement of the infrastructure and economic growth.
  

• Within two years, complete the School Modernization for the 21 st Century Project, one of the Public-Private Partnership Authority's initiatives that facilitates infrastructure improvements for approximately 95 public schools in 78 municipalities and the construction of 5 new, modern schools with the investment of $750,000,000, which represents the creation of new direct and indirect employment and transcendental change in the direction of public education infrastructure in Puerto Rico.

• Within 12 months, successfully complete and deliver 267 housing and infrastructure projects for the Special Communities Program.

• Develop diverse municipal projects, health facilities, transportation and urban development and other significant infrastructure improvement projects in order to contribute to economic development.
  

Government of Puerto Rico's public corporations and instrumentalities in need of financial, administrative and managerial assistance for the development of permanent improvement programs. Assistance to municipality governments is included.

Human Resources

Authorized and Proposed Positions	2009	2010	2011	2012
Managerial,Technical, Administrative, and Office Staff	10	7	8	7
Judges, Lawyers, and Legal Staff	1	1	2	1
Other staff	1	1	3	1
Planning, Budget, Statistics, Auditing, and Finance	6	9	5	6
Public Relations and Communications	2	1	2	1
Maintenance and General Services Staff	4	2	2	2
Total, Positions	24	21	22	18

FISCAL YEAR 2011-2012 ADOPTED BUDGET

The adopted consolidated budget for Fiscal Year 2011-2012 is $10,621,000. The funding includes: $5,031,000 from Other Income, $3,590,000 from the American Reinvestment and Recovery Act (ARRA) and $2,000,000 in Loans and Bond Issuance.

Operational Expenses reflect a reduction of $4,556,000 in comparison with the funds assigned in Fiscal Year 2010-2011. This is due to a reduction in ARRA funds.

Other Income must be used to cover operational expenses related to technical and financial assistance, for example: the Public-Private Partnership Authority for the Administration of the Schools for the 21st Century project, the Special Communities Office, Port of the Americas Authority, the Department of Health for the Administration of the Public Health Infrastructure Program, the Medical Services Administration, the Solid Waste Authority and municipal governments.

To continue permanent improvement projects, $4,973,000 have been included from investments made by the Authority. Construction projects that will be funded include: the Three Palms Recreational Complex in the Municipality of Aguadilla with a total investment of $2,500,000. In Fiscal Year 2011-2012, $2,973,000 in ARRA funds will be used for the completion of school improvement projects.