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Posts Tagged ‘Puerto Rico’

Another $1.5 Billion From FEDs, Disaster Dollars Spell Opportunities, Factory Builder$ Take Note

July 31st, 2018 Comments off

 

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Still from the video below. Text by MHProNews.

There are factory-builders, brokers and sellers who keenly understand that every natural disaster spells opportunities in disguise.

 

  • While the execution was widely seen and reported as tragically flawed, the Haitian crisis attracted friend-of-the-Clintons Warren Buffett led Berkshire Hathaway’s Clayton Homes into the island’s relief effort.
  • Millions were made from FEMA post Katrina, and again after those Katrina units were resold.
  • The same pattern holds with FEMA and/or HUD disaster grants after every major disaster.

Every project, failed or successful, yields powerful takeaways.

While HUD code factory-built homes are our focus, we routinely look at other forms of factory building too. It will only be mentioned for now that various kinds of Factory Builders are wise not to put each other down, as some mistakenly do.

For decades, the reality has been that federal housing dollars flow into the hands of private enterprises.

The same is true for disaster recovery dollars.

When some of the totals are considered below, Factory Builders should ponder how to get ahead of the next disaster.  Indeed, some already have and are.

Here’s the latest opportunity in plain sight from HUD, just below the PR header.

Consider how a factory – newly announced just a few months ago – is already reporting to MHProNews that they are open, and will hit 3 new homes a day this week. Their HUD Code manufactured homes will have an average wholesale price – for a nicely appointed home – FOB the factory in the mid-30s, per our top-level source.

Entrepreneurs, long-term investors, and current factory builders not already considering these opportunities, Take Note. Between the ongoing affordable housing crisis, and periodic disasters, opportunities in manufactured and PreFab housing abound.

 

 

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HUD APPROVES $1.5 BILLION DISASTER RECOVERY PLAN IN PUERTO RICO

Action plan focuses on housing, infrastructure and economic development

 

            WASHINGTON – U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson today announced HUD has approved a $1.5 billion disaster recovery plan to help citizens in Puerto Rico to recover from Hurricanes Irma and Maria.  Puerto Rico recently submitted the plan for HUD’s review which primarily focuses on the restoration of damaged and destroyed homes, businesses and infrastructure.  Read Puerto Rico’s recovery plan.

 

Puerto Rico’s long-term recovery is supported through HUD’s Community Development Block Grant—Disaster Recovery (CDBG-DR) Programwhich requires grantees to develop thoughtful recovery plans informed by local residents.  Learn more about CDBG-DR and the State’s role in long-term disaster recovery (en español).

 

“Today, we turn an important corner in our long-term effort to rebuild hard-hit communities in Puerto Rico,” said Secretary Carson. “This is just the beginning – billions in federal disaster recovery funding will soon be put to work and help our fellow citizens in Puerto Rico rebuild their homes and their lives.”

 

Background

 

On September 8, 2017, President Trump signed the  Additional Supplemental Appropriations for Disaster Relief Requirements Act, 2017The Act appropriated $7.4 billion in CDBG-DR funding for major disasters declared in 2017.   To distribute these funds, the Act requires HUD to direct the funds to the areas most impacted by last year’s major disasters.   On February 1, 2018, HUD allocated $1.5 billion of that appropriation to Puerto Rico to address the serious unmet needs on the island.  The action plan approved today will put these funds to work.

 

On April 10, 2018, HUD allocated another $18.5 billion to further support recovery in Puerto Rico and to rebuild communities impacted by Hurricanes Maria and Irma and to protect them from major disasters in the future.  HUD will shortly publish program rules to guide Puerto Rico and others on the use of those funds.

 

 

CDBG-DR grants support a variety of disaster recovery activities including housing redevelopment and rebuilding, business assistance, economic revitalization, and infrastructure repair. Grantees are required to spend the majority of these recovery funds in “most impacted” areas as identified by HUD.HUD will issue administrative guidelines shortly for use of the funds to address grantees’ long-term recovery needs, particularly in the area of housing recovery.

 

To address unmet needs, Puerto Rico identified several housing, infrastructure and economic development recovery needs arising from Hurricanes Irma and Maria.  Puerto Rico’s disaster recovery action plan includes the following activities:

 

  • Housing ($1 billion) – Puerto Rico is investing more than $1 billion to restore the island’s severely damaged housing stock.  As part of the plan, Puerto Rico intends to provide up to $120,000 to rebuild destroyed homes for each qualified homeowner and up to $48,000 to repair each eligible damaged property.  Additional housing investments include funding for rental assistance ($10,000,000), specifically for properties serving the elderly and other vulnerable households.  Puerto Rico has also proposed a $36 million Home Emergency Resilience Program that provides up to $6,000 per household for individual solar appliances to help families.

 

  • Economic Revitalization ($145 million) – Puerto Rico’s recovery plan provides $145 million for several activities to help revitalize the post-disaster economy, grants of up to $50,000 for eligible businesses.  The plan also targets grants of up to small business incubators and accelerators ($10,000,000) awards of up to $2,500,000 for each eligible incubator operation, a workforce training program ($10,000,000) awards of up to $2,000,000 to train eligible Section 3 residents, and a construction and commercial revolving loan program ($35,000,000) that will provide up to $1,000,000 per loan to eligible businesses.

 

  • Infrastructure ($100 million) – To support the repair of damaged infrastructure on the island, Puerto Rico intends to target $100 million to match federal investments through the Federal Emergency Management Agency’s (FEMA) Public Assistance and Hazard Mitigation Grant Program projects.

— End of HUD Media Release —

 

That’s News Through the Lens of Manufactured Homes, and Factory Built Housing.” © Where “We Provide, You Decide.” © ##(News, analysis, and commentary.)

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SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

Related Reports:

Realtor University ® “The Market for Manufactured Homes,” Research by Scholastica Cororaton, Certified Business Economist, Highlights

A “Ghost,” Named “Wolf,” “Disaster Capitalist” and Post-Maria Puerto Rico

HUD Approves Additional $5 Billion Disaster Recovery Plan

MH Lending, FEMA and False Profits (and False Prophets)

Puerto Rico, Post-Hurricane Maria, Manufactured Homes and Factory-Built Housing

September 29th, 2017 Comments off
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Puerto Rico, satelitte view before and after Hurricane Maria.

While not a state, Puerto Ricans have been U.S. Citizens since 1917, says LOC.gov.

As citizens, they are able to come to any of the 50 United States at any time.

Given the devastation on the island in the wake of Hurricane Maria, many believe that’s precisely what’s starting to occur, and will likely happen at an increasing pace.

The disaster, of course, is an immense tragedy to the millions on the island.

The still from the NBC News video shows just how devastated the electrical grid is post-Irma.  The top half of the picture is the view pre-Maria, the bottom half of the still, after the monster storm.

To get a sense of the magnitude of the human need, as Fox News reports, the population on the island is equal or greater than 21 of the United States.

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There are millions without power on the island, with declining food, water, and other basic needs.

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Housing

The tragedy is bound to attract serious attention from those in the housing sector, including manufactured  homes, modular, and prefab housing.

There is going to be a dual need.

  • One, housing on the island itself.
  • Two , housing for those who are leaving Puerto Rico for the mainland.

FEMA is already scrambling after Hurricanes Harvey and Irma.  While power has been restored to most of Florida now, there’s tens of billions of dollars in damage that must be dealt with here.

Clayton, Clinton, and Haiti

Some professionals may recall that during the Haiti’s crisis, Clayton Homes worked with the Clinton Foundation to ship units to that island nation. Controversy arose in the mainstream media in the wake of that disaster regarding placements and performance due to problematic installations.

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Certainly, there were some arguably some problems with the Montreal Gazette’s reporting, but the fact remains that serious issues were raised that harmed the industry image. Those are lessons that the factory-built home industry needs to consider, learn from, and hopefully avoid.

Post Hurricane Industry Responses 

With manufacturing facilitates already backordered numerous weeks, there are reports coming into MHProNews that some factories may expand, open or reopen production to meet the needs.

But that too has its challenges.

Labor must be recruited, and trained. There is the balance investors make between meeting the needs, and the question mark of what happens post-disaster.

The Daily Business News on MHProNews will continue to track the post-hurricane recovery efforts.  ## (News, analysis. Editor’s Note: we salute all those who are responding to these disasters, and pray for the speedy recovery of the millions of victims.)

FEMA/Disaster Related:

Industry Voices Op-Ed – Award Winning Manufactured Home Retailer on FEMA Takeover, Impact on Independents

News:

FEMA, Clayton Growing “Threat” to Independent “Non-Corporate” Companies – from Omaha

1000s of Homes Needed, Independent Clayton Retailer Expresses Concern, Frustration with FEMA Connected Delays

Report – Memo Confirms FEMA Can ‘Take Over’ Manufactured Housing Production

Controversies Erupt as FEMA Presses HUD Code Builders, Manufactured Home Retailers, Industry Pros React

Association, Members Respond to Hurricane Harvey, FEMA and Related Manufactured Housing Efforts

(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)

SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.

Historic Hurricane Season as Hurricane Irma Approaches the Florida Coast, Can FEMA Keep Up?

September 6th, 2017 Comments off
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Featured image credit, AccuWeather

In Florida, we always prepare for the worst and hope for the best,” said Florida Governor Rick Scott, and while the exact path of Irma is not absolutely known at this time, we cannot afford to not be prepared.”

Less than two weeks have passed since Hurricane Harvey made landfall in Texas as a Category 4 storm, leaving a mass of destruction in its wake.

Now, a similarly terrifying storm is making its way through the Atlantic, with enormous potential to make landfall in southern Florida.  While not a record, Fox News said that it could be the first time in 102 years that two category 4 hurricanes make landfall in the U.S.

Hurricane Irma is now a Category 5 hurricane, making landfall in the northern Caribbean Islands. The storm is expected to downgrade to a Category 4 before potentially making landfall in southern Florida, per AccuWeather.

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Potential impact zones for Hurricane Irma. Image credit, AccuWeather.

At this time, it is too soon to tell where or if it will hit in Florida.

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Florida Governor Rick Scott. Image credit, Wikipedia.

But given the computer models, Governor Scott has already declared a State of Emergency for all counties in the state.

He has also activated the Florida Air and Army National Guard, with 100 members called to duty immediately.

All 7,000 members of the state’s guard are expected to report Friday morning, per the Orlando Sentinel.

Our state emergency management officials are working with our federal and local partners to prepare for any potential impacts from this dangerous storm,” Scott said. “And it is crucial that we have access to every available resource to protect our families and communities.”

Emergency measures that may be taken include shoring up beach dunes, building emergency beams, and plans for potential evacuation.

It is incredibly important that all Floridians pay attention to this incredibly dangerous storm,’’ Scott urged residents. “Do not sit and wait to prepare. Prepare now.”

Residents, both new and life-long, are not taking chances when it comes to this storm. According to the Herald Tribune, keeping water on the shelves was nearly impossible for stores on Tuesday.

Since the storm isn’t expected to reach the state until sometime Friday to Sunday, residents have time to plan.“Time is definitely on our side,” said Matt Bragaw, a forecaster at the National Weather Service in Melbourne. “It’s definitely daunting, but it’s times like this where being calm and collected are a necessity.”

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Carrie Morse of Sarasota stocks up on hurricane supplies at Circle A Food Place in Sarasota, FL. on Tuesday. Image and captaion credit, the Herald Tribune.

Even for those who will not experience a direct impact with Irma there will be high winds and heavy rains over the weekend.

This is definitely a serious situation for everyone in the Florida peninsula,” Bragaw said. “If [the storm] steers east or west, we’ll still feel some impacts.”

FEMA Could Pre-Position Manufactured Homes, Buy Others from HUD Code Home Sellers

As the Daily Business News report linked from the graphic below stated, now is a good time for manufactured home sellers to contact FEMA officials, who are already seeking manufactured homes in disaster impacted Texas and Louisiana.

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MH Event Impact?

It is unknown at this time what effect, if any, a weather related disaster may have on planned manufactured housing industry events in Florida.

Can FEMA Keep Up With Two Category 4 Hurricanes?

Since FEMA and other government resources will be strained due to last week’s destruction in Texas, more preparation and storm aftermath may rest on individuals, Myers said. It may be crucial to evacuate ahead of the storm, so preparation is key,” per AccuWeather.

The Federal Emergency Management Agency (FEMA) is already working around the clock in Texas to help get the nearly 40,000 people who lost their homes out of shelters, and into a more permanent form of housing. Just yesterday, the agency issued an urgent call for manufactured homes for Hurricane Harvey survivors.

In Texas, relief efforts came quickly because President Trump declared a State of Emergency ahead of time, as the Daily Business News has previously reported.

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Featured image credit, Hurricane Harvey Relief.

In preparation for Irma, President Trump has done the same – declaring a State of Emergency in Florida, Puerto Rico, and the U.S. Virgin Islands on Tuesday, per Fox News.

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Three of many possible paths Hurricane Irma can take over the weekend. Image credit, AccuWeather.

However, with relief efforts only beginning in Texas, will FEMA be able to keep up with the needs of Americans if Irma makes landfall as a Category 4 hurricane?

The U.S. has not sustained a direct hit from two Category 4 or above hurricanes in more than 100 years,” Evan Myers, AccuWeather expert senior meteorologist and chief operating officer, said.

Readers from Florida – as well as anyone who wants to keep track of where Hurricane Irma is headed – can keep watch with the livestream below.

If there is an evacuation order in your area, please follow it,” Gov. Rick Scott said Tuesday. “We can rebuild your home but we cannot rebuild your life.” ## (News.)

(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)

JuliaGranowiczManufacturedHomeLivingNewsMHProNews-comSubmitted by Julia Granowicz to the Daily Business News for MHProNews.

 

 

 

 

HUD Announces Record $1.9 Billion in Grants to “End Homelessness”

December 26th, 2016 Comments off
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Credit: HUD.

On December 20th, the Department of Housing an Urban Development (HUD) announced that it has awarded a record $1.95 billion to numerous homeless assistance programs across the U.S., including Puerto Rico, Guam, and the U.S. Virgin Islands.

As part of the Obama Administration’s effort to prevent and end homelessness, the U.S. Department of Housing and Urban Development today awarded a record $1.95 billion in grants to nearly 7,600 homeless assistance programs across throughout the nation, including Puerto Rico, Guam, and the U.S. Virgin Islands,” HUD said in a prepared statement.

The awards, know as “Continuum of Care” grants, are intended to “prevent and end homelessness.

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Julian Castro. Official photo.

Per CNS News, HUD is urging states to spend the grant money on their “highest-performing local programs that have proven most effective” in reducing homelessness.

Today marks another critical investment in support of those working each and every day to house and serve our most vulnerable neighbors,” said HUD Secretary Julian Castro.

We know how to end homelessness and will continue to encourage our local partners to use the latest evidence to achieve success. These grants support proven strategies to end homelessness once and for all.

Among the states receiving grants, California will get the largest share a total of $352,946,617 for 933 local homeless-assistance projects, followed by New York with $195,920,284 for 621 projects, Illinois $104,862,190 for 416 projects, and Pennsylvania $100,357,941 for 515 projects.

Among the states receiving the least in grants are: Wyoming, $291,611 for 5 projects, South Dakota with $1,264,095 for 10 projects and North Dakota receives $1,903,991 for 20 projects.

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Screen capture from the 6 page document by Dr. Carson, posted on a commentary linked here. Carson has been named by the Trump transition team as the president-elect’s pick to lead HUD, which is the primary regulatory agency for the HUD Code manufactured housing program. Will Dr. Carson work to merge, for example, DOE’s energy program back into HUD? The document download linked from the commentary above offer clues.

The Solution for Homelessness, Hiding in Plain Sight

As Daily Business News readers – and forward looking manufactured housing professionals and investors know –  manufactured homes provide a quality, affordable solution to the housing challenges that the nation faces.

A growing number of mainstream media, as well as federal public officials and politicos in both major parties agree on that fact, as is reflected in the Julian Castro video posted below.

MHI and MHARR have both welcomed incoming HUD Secretary Dr. Ben Carson.

Dr. Carson has been invited in an open letter by our publisher to better understand the potential for manufactured housing to save on federal budgets, while offering free market solutions that can cut homelessness and increase independence rather than dependence.

With the U.S. Census Bureau reporting an average manufactured home price of $66,000 (see 2016 manufactured housing fast facts report, linked here), the manufactured housing industry could provide 29,545 homes with the $1.95 billion in grants that HUD has made available. Leveraging that same sum could raise that by a factor of 10 to 20. Using a more modest model manufactured home than the median or average size would further increase the potential impact the total numbers served by such government programs.

Over time, following that pattern, federal and any matching state/local spending could be cut, while dramatically improving the lives of each of those touched.

The solution to affordable quality housing is hiding in plain sight. ##

(Image credits are as shown above.)

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Jobless Claims Edge Down

May 25th, 2012 Comments off

HousingWire tells us the government reports Americans filing jobless claims fell to 370,000 for the week ending May 19, down from 372,000 the previous week. The four week moving average hit 370,000 as well. For the week ending May 5, the total number of people claiming benefits from all the government programs dropped by 105,004 filings to 6.128 million. MHProNews.com has learned the states with the highest insured unemployment rates as of May 5 are Alaska at 4.9%, California and Puerto Rico with 3.6%, Pennsylvania at 3.5%, and New Jersey and Oregon at 3.4%. For the week ending May 12, the states with the largest spikes in claims were all in the South: North Carolina, Tennessee, Mississippi, Alabama, and Florida. The largest drops in claims occurred in New York, California, Missouri, Illinois, and Texas.

(Photo credit: SuperStock)

Connecticut Mission to Build Modular in Puerto Rico

March 4th, 2011 Comments off

From NCAdvertiser.com in New Canaan, Connecticut, comes news that members of the Congregational Church in New Canaan are traveling to Puerto Rico March 12 to inaugurate a modular housing program.  Their destination is Las Acerolas, Toa Alta, just southwest of the capital, San Juan, where they will meet up with other partners in the project.  Students from Caribbean University’s home construction program in Bayamon, P.R., helped design the first house, which has been reinforced to withstand hurricane force winds.  Church members have been here previously to help residents do major repair work on their homes.  The long-term goal is for all the residents of Las Acerolas to have safe, affordable modular housing.