By The Star Staff
Gov. Pedro Pierluisi Urrutia announced on Monday the signing of a contract between the Puerto Rico Ports Authority and the Municipality of Fajardo for the lease and operation of the old ferry terminal, with the goal of promoting economic development in the region.
“This agreement promotes the economic and tourism development of the eastern region, revitalizing a key facility that was in disuse,” Pierluisi said in a written statement. “It is a significant step for the local economy and for job creation.”
During the announcement, the governor was accompanied by the Ports Authority Executive Director Joel Pizá Batiz and Fajardo Mayor José Aníbal Meléndez.
The contract has an initial term of 20 years, with possible extensions, and allows the municipality to seek private operators or developers within a period of 24 months. The agreement includes the commitment of the municipality to cover maintenance and insurance costs, in addition to settling a debt of more than $1 million with the Federal Transit Administration (FTA).
“This achievement is key to encouraging economic development not only in Fajardo, but in the entire northeast region,” Meléndez said.
The agreement establishes that Ports will receive between 3% and 5% of the income generated by the property, thereby promoting sustainable investment.
The project joins other initiatives in the eastern region, such as the development of the former U.S. Naval Base at Roosevelt Roads, which represents more than $1 billion in private investment, including new marinas, hotels and golf courses, in collaboration with companies such as Discovery Land Corp. and PRISA Group.
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