The Weekly Journal - June 19, 2019

Wednesday, June 19-25, 2019 - // no. 008

Puerto Rico and the Caribbean

www.theweeklyjournal.com

WHITE HOUSE RE-NOMINATES FOMB MEMBERS P14 PUERTO RICO HOUSING SALES INCREASE P10 PUERTO RICO GOV’T BETS ON LOCAL FILM PRODUCTIONS P11

MILLENNIALS STILL TREADING WATER DUE TO

WORLDWIDE

FINANCIAL CRISIS For Puerto Rican millennials, ripple effects are strong

E

>Courtesy Bad Bunny

Rosario Fajardo

A HISTORIC NIGHT FOR BAD BUNNY IN SANTO DOMINGO P20

rfajardo@wjournal.com

@RosarioWJournal

very generation is shaped by its circumstances—economically, politically and socially. Millennials are no exception.

Commonly defined as those born between 1981 and 1996, they represent a sizable age cohort in many countries; in Puerto Rico, about 21.2 percent of the population are considered millennials, according to 2017 U.S. Census estimates.

An international survey of millennials performed by

Deloitte has found that they are a “generation disrupted,” as their aspirations have evolved or been delayed in part by financial constraints, namely the global financial crisis of 2008 and its after effects.

For many, the economic challenges they face have shaped their decisions. While marriage, children and buying homes were the “norms” for the previous generations, these traditional markers aren’t the top priorities for today’s millennials.

For example, 57 percent said they wanted to travel and see the world; this was at the top of their list of aspirations. Still, they are just as

The Weekly Journal > Wednesday, June 19, 2019 > 2

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A WEEK IN REVIEW TOURISM CO. REPORTS HISTORIC RECORD IN OCCUPANCY TAX COLLECTIONS The executive director of the Puerto Rico Tourism Co. (PRTC), Carla Campos, announced that room tax collections for April 2019 have been the highest ever for that month.

Last April’s collections totaled $6,969,326.04, reflecting an increase of more than half a million dollars compared to April 2018, and exceeding the record set in April 2015, which amounted to $6,919,082.38.

The PRTC executive director informed that collections for short-term accommodations have been a contributing factor to increased revenues. For the month of April 2019, the income derived from short-term accommodations and platforms totaled $1,291,270, representing 18.5 percent of the total collection.

Campos stated that these numbers reflect “an evident increase” in hotel bookings and short-term rentals. >Carlos Rivera Giusti

CONGRESSIONAL SUBCOMMITTEE SUGGESTS EXCLUDING ‘COMMONWEALTH’ OPTION FROM FUTURE PLEBISCITES

LAWMAKERS SEEK TO ADDRESS THE DISPARITY IN HEALTH FUNDING FOR TERRITORIES

Puerto Rico’s resident commissioner, Rep. Jenniffer González (R-PR), claims that a congressional report recently released has recommended that the option to remain a commonwealth be excluded in all future status referendums if the island’s political status issue is to be solved.

The suggestion was issued by the Subcommittee on Commerce, Justice, Science and Related Agencies of the Appropriations Committee of the U.S. House of Representatives in its 2020 allocations report. >Josian Bruno

Powered BY El Vocero de Puerto Rico, 1064 Ave Ponce de León 2nd floor San Juan, PR Postal Address: PO Box 15074, San Juan, PR 00902

U.S. Sen. Bernie Sanders (I-Vt.) has introduced the Territories Health Equity Act of 2019, a companion bill to Rep. Stacey Plaskett’s (D-V.I.) in the House, to address the disparity in Medicaid and Medicare funding for the U.S. territories.

The lawmakers say the bill would correct “long-standing inequities” in federal healthcare funding and give “the nearly four million Americans living in U.S. territories access to health care.” > Josian Bruno

President Salvador Hasbún shasbun@elvocero.com

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Phone: 787-622-2300, 787-721-2300 Customer Service: 787-622-7480

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PRIORITIES AND ASPIRATIONS FOR MILLENIALS WORLDWIDE

*

See and travel the world earn high salaries/ be wealthy buy homes of their own make a positive impact on society start families/ have children

46 %

39 %

57 %

52 %

49 %

* Survey respondents could choose more than one option Source: The Deloitte Global Millennial Survey 2019

FROM PAGE 1 ambitious as previous generations, with earning a high salary and being wealthy coming in second on their list of aspirations, at a 52 percent response rate. Coming in third at 49 percent was buying homes of their own, followed by making positive impacts in their communities/society with 46 percent.

Meanwhile, most millennials aren’t just delaying marriage, but in terms of “aspirations,” only about 39 percent said they wanted to have children or start families. The total is above 100 percent because survey participants could choose from a host of options.

Deloitte’s 2019 report is based on the views of 13,416 millennials questioned across 42 countries, including the U.S., Mexico and Colombia. The millennials included in the study were born between January 1983 and December 1994. Of those surveyed, 31 percent did not have full-time employment status and 34 percent did not have a college or university degree “Chief among the influencing factors is likely the economic recession of the late 2000s,” Deloitte said, noting that older millennials were entering the job market when the global financial crisis erupted.

“In the United States, millennials who entered the labor market around the recession, or during the years of slow growth that followed, experienced less economic growth in their first decade of work than any other generation. They have lower real incomes and fewer assets than previous generations at comparable ages, as well as higher levels of [student] debt. The cumulative effect has altered a wide variety of financial decisions… Studies suggest that entering the labor market during a recession has long-term negative effects on subsequent wages and career paths,” Deloitte explained.

A Pew Research Center report dated Feb. 2019 found similar findings, saying that compared with previous generations, U.S. millennials “are delaying or foregoing marriage and have been somewhat slower in forming their own households. They are also more likely to be living at home with their parents, and for longer stretches.”

Still, they are better educated, with 39 percent of millennials having a bachelor’s degree or higher, compared with 25 percent of Baby Boomers (born 1946 to 1964) when they were at the same age.

Pew also found that wider economic forces have had a big impact on millennials’ accumulated wealth. “While the Great Recession affected Americans broadly, it created a particularly challenging job market for millennials entering the

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sponsored by

workforce. The unemployment rate was especially high for America’s youngest adults in the years just after the recession, a reality that would impact millennials’ future earnings and wealth,” said the U.S. fact tank. “Compared with earlier generations, more millennials have outstanding student debt, and the amount of it they owe tends to be greater.”

THE WEEKLY JOURNAL spoke with several Puerto Rican millennials whose own experiences echoed those of their peer group worldwide.

Deluge of Student Debt

Manuel Juliá, born in 1986, is seeing the light at the end of the tunnel. “I worked my way all through college, starting from when I was at Sacred Heart University studying for my bachelor’s degree in psychology,” he said. “I worked in a law firm and I taught English to the elderly.”

Today, Juliá is in his “final lap” as a doctoral student in clinical psychology. He has completed his coursework, is working on his thesis and is ready to start his professional career after years of hard work and dedication.

He is, however, concerned about his financial Manuel Juliá, born in 1986, is in his “final lap” as a doctoral student in clinical psychology. >Gabriel López Albarrán future. Turning 33-years-old this year, he said he has accumulated about $200,000 in student loans chance to succeed. It’s not easy and there’s lots of money into savings. Not having children is a life as a doctoral student at Ponce Health Sciences competition, but I have to do my part.” choice for me.”

University.

“While working on my thesis, I’m also looking for Pragmatism Rules the Day Moving Stateside for Professional, a part-time job in San Juan, to help with my living Cristina Gil de Lamadrid, born in 1987, has been Personal Growth expenses,” he said. working as an attorney since 2015. Her decision Gabriela Feliciano, born in 1992, is among the After graduating with his bachelor’s degree, to study law at the University of Puerto Rico, after thousands of Puerto Ricans who have left the he initially looked for full-time work but found it graduating from the University of Central Florida island to find better opportunities stateside. quite difficult. “The labor market here is pretty with a degree in Political Science, seems to have She moved to Portland, Oregon after obtaining challenging… A main driver was trying to figure been a fairly easy one. her bachelor’s degree in Psychology from the out what to do with my life and I decided to go to “My dad owns a law firm and that was part of InterAmerican University. Now living in the City of graduate school full time. It’s a big investment. my decision-making [process]. I knew it would be Roses for nearly two years, she is currently working You’re studying all the time, there’s no time to as an administrator for an Indian fashion curator. work, so I took student loans. That’s the reality,” he easier for me,” she said. At the same time, she had worked as a paralegal, She also works part time as a Spanish-language said. so she knew she liked interpreter at medical facilities.

Still, Juliá said, he the law.

“I would never have gotten these kinds of jobs decided to study for Gil was also aware in Puerto Rico. I felt that I was stuck there. The his doctorate with that it is not easy to find economy was stuck and even though I worked a his eyes wide open, a legal job in Puerto lot [primarily in the food industry], I wasn’t able to knowing he would Rico, as the competition save,” Feliciano said, noting that she does not have amass a huge student is stiff. “There are a any student loans, which has greatly helped her debt load. “Puerto Rico lot of law students in financial situation. has lots of need. Fifty Puerto Rico, but the “People say we [millennials] have it easier in percent of the people passing rate in the the material sense, but the economy has been so in the country suffer -Doctoral student Manuel Juliá bar exam is very low, tough. Our parents had a much clearer career path from mood disorders, so many people take than we do. It’s harder today,” she said. depression, anxiety. other jobs. Some are Today, living and working in Portland, she is This is really what I want to do, but in a way, I do wonder how will I pay [underemployed], working as waitresses,” she said, able to meet her basic expenses and save a bit— noting that the first ones grabbed are often those enough to dream of traveling more often, which is this [debt]? But the only way I could study was to who go to schools in the mainland U.S. on her list of priorities. get student loans.”

“Many millennials feel entitled. They feel that Feliciano said she really enjoys the lifestyle in His first choice, he said, would be to find a job they’ve reached the finish line when they get their Oregon. Besides the positive job market, Portland in Puerto Rico, but “the first place I get a job, that’s degrees, but that’s not enough. You need to work,” also has a good public transportation system, is where I’ll be. I need a secure future… and I have she said. known for its liberal politics and is on the front debts to pay.”

Like many of her peers, Gil is not focused on line of fighting climate change. “I’ve become much For these reasons, Juliá said it is a fair marriage and children, but rather her career. And more aware of the environment here. My building assessment that marriage and children are her pets. “I have two dogs and I’m about to get a has recycling and composting. I bring a water not on his list of priorities right now. “My focus third one. I really love them,” she said. “I read that bottle to work so that I use less plastic,” she said. has been my education. I am in so much debt. the average child, from birth to 18, costs $1 million “At the grocery store, I bring my own containers to How can I take responsibility for a family and to raise. That’s the average child. I can put that buy rice and cereal.” a child?” he asked rhetorically. “I have a good

The first place I get a job, that’s where I’ll be. I need a secure future… and I have [student] debts to pay.

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Trade & Export Co.

Opens exhibit to showcase select businesses in the sector

Bets on P Puerto Rico’s Creative Industries Giovanna Garofalo

ggarofalo@wjournal.com

@giopgarofalo

uerto Rico Emprende inaugurated a pop-up exhibit to showcase multiple local businesses in the creative industries as a way to highlight the growing opportunities within this economic sector.

The exhibit, called Mercado Creativo (Creative Market), was organized by the P.R. Trade & Export Co. (CCE by its Spanish initials), and displayed on the first floor of San Juan’s Plaza Las Américas shopping center—in front of McDonald’s and American Eagle—from June 11 to 15.

Throughout that period, nearly 20 local smalland midsize businesses (PyMEs) advertised their products and services. These companies were extended an invitation by the CCE because they had been previously enlisted in the latter’s creative industry registry.

Chief of Staff and CCE Executive Director Ricardo Llerandi affirmed to THE WEEKLY JOURNAL that this government instrumentality is committed to endorsing creative industries.

“This year, we designated June as the Creative Industry Month and we are looking for ways to make them more visible to the general public... and we believe that this season... is a great opportunity to provide a forum for our entrepreneurs to come

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and showcase their products and services so the in the exhibit—Natalia Figueroa, owner of Aguja people understand creative industries and how Local, and Jonathan Falcon, proprietor of Prinomo. they can help them grow,” Llerandi said.

Figueroa founded Aguja Local as an effort The CCE defines these as businesses that to introduce the general public to Puerto Rican use creativity, expertise, and talent to develop fashion designers. As someone who also studied innovative ideas and concepts with the potential fashion design, Figueroa saw the potential in to generate jobs and contribute to Puerto Rico’s exporting local talent to the United States as well economic development. as promoting it on the island.

There are four major creative sectors: design “I always wanted to have a store, but I wanted it (graphic, industrial, fashion, and interior); arts to be a fashion store that made a difference. So, I (music, visual, scenic, and publications); media founded Aguja Local, where we sell clothes made (app development, video games, digital content, by up-and-coming local designers that not a lot of and multimedia); people know about,” and creative services she said. (architecture and The website, www. creative education). agujalocal.com, sells According to a clothing items and document shared by accessories made by 40 the CCE, there are Puerto Rican designers. roughly 18,500 people Meanwhile, Falcón’s employed in creative Prinomo is a design industries. Of these, and printing company 46 percent work in founded in 2015 - CCE Executive the media industry, that specializes in Director Ricardo Llerandi 35 percent in the arts, promotional materials.

17 percent in creative Their offerings, services, and the available through www. remaining 2 percent in design. prinomo.com, includes t-shirts, USB drives, flyers, On June 11, this paper interviewed two accessories, and more. e-commerce entrepreneurs who were participating When pressed about the current trend of

“This year, we designated June as the Creative Industry Month and we are looking for ways to make them more visible to the general public”

using only digital marketing, Falcón assured that printing is a $23 billion industry and that his company continues to grow due to their collection of products. As with Figueroa, he also stressed the convenience and affordability of managing an e-commerce company.

Llerandi echoed this sentiment, stating, “e-commerce is part of the creative industries; that is, online sales, production, and digital marketing. We are betting strongly on digital economy.”

“We must make these entrepreneurs’ talent known to all of Puerto Rico. Their services can be used for other companies to reinvent and expand, but they can also be useful for every citizen,” Llerandi added. Creative industries reportedly contribute $10 billion to the local economy.

To date, there are 2,054 businesses listed in the CCE’s creative industry register. Llerandi explained that the registry is free of charge and enlisted businesses are eligible for incentives, business opportunities and future events, including workshops and summits. Since 2017, the CCE has assisted roughly 15,000 PyMEs with workshops and economic incentives.

To register online, visit www. comercioyexportacion.com.

-----------------------Editor’s note: A shorter version of this story was published on June 11 on www.theweeklyjournal.com

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Report:

Puerto Rico Housing Trends

Reveal Sales

Increase Industry recovering from Hurricane Maria Giovanna Garofalo

P

ggarofalo@wjournal.com

@giopgarofalo

>Courtesy ETI

uerto Rico’s housing industry made a steady comeback in 2018, following Hurricane Maria’s toll on the sector in 2017, as revealed in a study made by Estudios Técnicos, Inc. (ETI).

In its “Puerto Rico Housing Trends and Perspectives” presentation, the ETI informed that 10,789 new and used residential establishments were sold in 2018, representing more than $1.4 billion in sales with an average of $134,327 per housing unit. By contrast, 8,805 units were sold in 2017, with the average pricing coming at $132,810 for nearly $1.1 billion in sales.

Thus, the number of housing units sold increased by 23 percent, revenue from sales rose by 24 percent, and the average price increased by 1 percent.

New construction sales hiked by 78 percent and used unit sales saw a 17 percent upsurge compared to 2017. In fact, this is the highest recorded number of overall residential sales since 2012, which then reported 13,221.

It should be noted that the housing industry was already making progress before the hurricane struck the island.

“The reduction in [2017] sales was directly related to Hurricane Maria. 2017 sales prior to September were trending above 2016 sales,” the report reads.

Likewise, there were fewer foreclosures in 2018 than in 2017, but 2016 saw the most foreclosures in the past decade.

More Sales Reported in 2019

The ETI study cited findings by the Puerto Rico Office of the Commissioner of Financial Institutions (OCIF by its Spanish acronym), which showed that the first quarter of 2019 (1Q-2019) reported 2,484 total housing sales, while the first quarter of 2018 reported 2,304. This would appear to indicate that the industry is maintaining steady growth.

Throughout 1Q-2019, which lasted from January to March, 71 projects sold units. In total, 258 projects were surveyed. 43 percent of these units were sold in the price range of $105,000 and $149,999.

60 percent of residences sold were single-family units, 17 percent were in high-rise buildings, 14 percent in walk-ups, 8 percent in villas, and 1 percent were mixed.

The top three municipalities in housing sales were Ponce, with 17.9 percent; Mayagüez, with 13.6 percent; and San Juan, with 10.3

The top three municipalities in housing sales were Ponce, with 17.9 percent; Mayagüez, with 13.6 percent; and San Juan, with 10.3 percent. >Archive

percent. However, only 11 out of 78 municipalities were included in these findings.

Meanwhile, by the end of 1Q-2019, there were 151 new housing projects with units built and ready for delivery. Moreover, the total number of units in inventory was 1,446. Of these, 70 percent were priced below $200,000.

Housing Industry Challenges

Despite reported growth in the industry, the ETI warned of multiple challenges that could hinder its progress.

The first of these is a shrinking economy. As cited by the ETI report, the P.R. Planning Board’s 2018 Statistical Appendix revealed that Puerto Rico’s real gross national product (GNP) in 2017 was -2.4 percent, down from -1.3 percent in 2016 and the lowest GNP since 2012’s 0.5 percent.

According to the study, the total economic contraction since 2006 is 19.1 percent.

This is also tied to a smaller labor market.

Between 2007 and 1Q-2019, the private sector suffered 63,700 job losses. Manufacturing and construction took the heaviest toll, with 34,200 and 35,000, respectively. Meanwhile, the state and local government sector lost 95,200 jobs. The net job loss as of 2019 is 158,900.

Additionally, the island is undergoing a declining population base. The U.S. Census documented that in 2010 there were more than 3.7 million residents in the Commonwealth. By 2017, that number had been reduced to roughly 3.3 million and the exodus propelled by Hurricane Maria and a myriad of other factors further narrowed that number down to less than 3.2 million.

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Roughly $2 Million Invested

in Local Film Productions The selected projects are expected to generate $4.3M

P

Giovanna Garofalo

ggarofalo@wjournal.com

edro Piquer, director of the Film Industry Development Program (PDIC by its Spanish acronym), disclosed to THE WEEKLY JOURNAL that by the end of 2018 they had provided $1.9 million in grants bestowed by the agency’s Film Investment Fund (FIF) to eight Puerto Rican film productions.

The proposals were selected based on their opportunity for job creation, their harmony with the island’s environmental and geographical aspects, their commitment to the local agriculture and economic activity, ability to impart knowledge to locals, private financial commitment to the project, and the solicitors’ records.

The chosen productions are Perfume de Gardenias, The Butterfly, Julia de Burgos: Una Leyenda en Veinte Surcos, La Maravilla, La Pecera, Scammer, Receta No Incluida, and Al Revés. Most of these productions cost less than $500,000, yet they are

@giopgarofalo

expected to generate $4.3 million.

Manuel A. Laboy, secretary of the Department of Economic Development and Commerce (DDEC by its Spanish initials), revealed that these productions represent 192 days of filming—which means 192 nights in hotels—and will generate 775 direct jobs.

According to Piquer, his administration’s plan is to provide another financial opportunity to solicitors on August 2019 by selecting eight to 10 new cases and will continue to do so every fiscal year.

Despite this emphasis on the local film industry, this year’s FIF grant is less than it had been in previous years. However, Piquer explained that the winners either have additional private financing or are sponsored by other national or international film programs.

Regarding the funding process, Piquer said the agreement states that each production will receive funding for 50 percent of its budget, up to a maximum of $250,000.

“The agreement is made through

reimbursements when they present the audited expenses for each project. Therefore, the project has to spend these amounts and they have to be certified by a private auditor before they can request a reimbursement,” Piquer said.

Moreover, the PDIC director affirmed that there is a growing interest in Puerto Rico’s film industry both locally and globally.

“Every day we receive communications from local, national (U.S.), and international producers interested in filming or establishing some type of operation in Puerto Rico,” he stated.

As such, Piquer asserted that the local film industry plays an important socioeconomic role. According to the program director, it is estimated that between 15 and 30 percent of a film’s budget is invested in the local economy.

He added that the industry’s social value lies on the filmmakers’ portrayal of a society’s image. “It is a way to showcase who we are to the world; it is very important,” Piquer said.

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Film Industry Development Program Director, Pedro Piquer. >Courtesy DDEC

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Guaynabo City

Thriving Against All Odds

Guaynabo is the municipality with the highest per capita income in Puerto Rico. >Courtesy

Mayor Ángel Pérez Otero discusses business opportunities

I

Giovanna Garofalo

ggarofalo@wjournal.com

@giopgarofalo

n an interview with THE WEEKLY JOURNAL, Guaynabo Mayor Ángel Pérez Otero outlined his administration’s budget, achievements, challenges, and vision for the municipality’s future.

Pérez Otero assumed municipal leadership on August 2017 after his predecessor, Héctor O’Neill, resigned amid an ongoing investigation into allegations of sexual harassment. When Pérez Otero officially became mayor, he inherited a deficit of roughly $6.4 million, plus a series of lawsuits and other financial plights.

According to Pérez Otero, the previous administration’s municipal budget totaled nearly $130 million. In order to tackle Guaynabo’s deficit, he lowered that budget to $128.4 million for fiscal year 2018-2019—a figure that is expected to remain the same for the upcoming fiscal year, starting July 1.

Apart from the deficit, another reason his administration vouched to trim expenses is the recommendation by Puerto Rico’s Financial Oversight & Management Board (FOMB) to decrease the state government’s general fund budget (GFB) by, among other means, reducing

contributions to municipalities by $44 million, as revealed in its FY 2020 GFB report.

The new municipal budget for FY 2019-2020 was presented before Guaynabo’s Municipal Legislature earlier this month and, at the time of this writing, has not been approved. The draft includes a series of measures to incentivize business and publicprivate partnerships (p3), which the mayor deemed pivotal to overcome the deficit.

“Our budget is focused on economic development, and that has been my vision ever since I took hold of City Hall,” the mayor declared.

openings,” he commented.

Last year, the municipality granted more than 200 permits to new small- and midsize companies of a variety of goods and services, including restaurants, law firms, and medical offices.

According to the official, these new businesses have a collective sales volume of more than $48 million, which Pérez Otero explained contributed roughly $1 million in construction taxes. Moreover, RICOH, a multinational specialized in tech services, picked Guaynabo to establish its second office in Puerto Rico.

Pérez Otero also -Mayor Ángel Pérez Otero used other metrics to determine the Municipality municipality’s Reports Growth prosperity amid an ongoing fiscal crisis at state In addition to its deficit and FOMB’s pressure to level. reduce state and municipal budgets, Guaynabo, For instance, at 4.4 percent, Guaynabo has like the entirety of Puerto Rico, also had to the lowest level of unemployment in all Puerto overcome the aftermath of Hurricane Maria, which Rico.

Also, families’ per capita income—which was made international headlines after devastating the already the highest on the island—increased by 2.8 island on 2017. percent, compared to 2017. The mayor added that Pérez Otero said that after Maria his the median value of properties in the municipality administration took a series of initiatives that have increased by nearly $210,000, or a 2 percent led to favorable results. “We’ve seen increases upsurge. in patents, business volumes, and business

The goal is to transform Guaynabo into the business capital of Puerto Rico... for people to be able to see Guaynabo as an ideal place to live, work, and invest.

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“These are indicators that lead us to be able to realize that, in effect, the initiatives that we have implemented are proving effective,” Pérez Otero said.

As a side note, the mayor commented that Part 1 or Index crimes are down by 15 percent compared to the same time last year.

“Guaynabo is a safe place,” he added.

Guaynabo also has a partnership with the MBDA Business Center in Puerto Rico, which is operated by the non-profit P.R. Products Association. The Center, established by the U.S. Department of Commerce, provides technical assistance to companies so they can export their services strategically while achieving greater participation in local and international markets.

Additionally, the municipality Corporate Assistance Available has a partnership with the co-op A measure that has been La Sagrada Familia, which provides implemented is to expedite the micro-financial services suited to its process of obtaining municipal clients’ individual needs. permits and patents. This initiative “We have just finished training notwithstanding, the P.R. Permits & sessions with this cooperative.

Endorsements Management Office We just graduated more than (OGPe by its Spanish acronym) Guaynabo Mayor Ángel Pérez Otero said that last year the municipality granted more 50 people who presented their informed last May that there was a than 200 permits to new small- and midsize companies of a variety of goods and business models and they new regulation underway to create services, including restaurants, law firms, and medical offices, among others. were well-received, so they the Single Permit Inspector as a >Carlos Rivera Giusti. received orientation and now the way to centralize all stages of the municipality and the cooperative One of these is a contract with the Puerto Rico process, thus eliminating the need for continue to provide them with assistance so they Manufacturing Extension (PRiMEX), a San Juanmunicipal portals to request permits. can develop their business,” Pérez Otero said. based non-profit organization that is committed to However, Pérez Otero stated that the increasing industrial competitiveness by “bridging municipality has other projects to stimulate the productivity gap for companies, identifying economic development, such as a series of collaborative agreements with various organizations opportunities for growth, and encouraging technology development,” their website reads. to assist companies and entrepreneurs.

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/ Wednesday, June 19, 2019

Better Late Than Never:

Trump Renominates FOMB Members The Senate now has until July 15 to confirm the seven-member fiscal entity Rosario Fajardo

M

rfajardo@wjournal.com

@RosarioWJournal

ore than six weeks after President Trump announced that he would renominate the seven members of the Financial Oversight and Management Board (FOMB), the renominations were finally sent to the U.S. Senate on June 18, the White House said in a statement.

The Senate now has until July 15 to confirm the

>AP

seven-member FOMB. Perhaps sighs of relief could be heard in the hallways of the FOMB’s offices. “The members of the Oversight Board thank President Trump and his administration and look forward to continuing their service under the Puerto Rico Oversight, Management and Economic Stability Act of 2016 (Promesa) following the Senate confirmation process,” said the FOMB in a press release.

On Feb. 15, the U.S. Court of Appeals for the First Circuit ruled that the seven-member board was unconstitutionally appointed because they did not go through a U.S. Senate confirmation process. The board was allowed

FACT President Donald Trump re-nominates the current seven members of the board— Andrew Biggs, José Carrión, Carlos García, Arthur González, José González, Ana Matosantos and David Skeel.

to continue its work, with the caveat that President Trump and the U.S. Senate were given a 90-day period to validate the current members, as per the U.S. Constitution, or reconstitute the board in its entirety.

However, on April 29, about two weeks before the deadline, Trump said he would re-nominate the current seven members of the board— Andrew Biggs, José Carrión, Carlos García, Arthur González, José González, Ana Matosantos and David Skeel—at least until their terms expire in August.

The delay in the renomination process has not stopped the oversight board from reaching a slew of restructuring agreements with various creditors in the past few weeks. The latest is the adjustment plan reached with certain bondholders on restructuring $35 billion in Puerto Rico debt.

The blended cuts for those creditors included in the $35 billion restructuring are from 58 percent to 65 percent.

The FOMB plans to file the adjustment plan before Judge Laura Taylor Swain within 30 days, as a deal with some creditors and a “cramdown” for others. Reportedly, only about 10 percent of creditors holding $13 billion in outstanding general-obligation (GO) bonds have accepted the deal, but the FOMB hopes others will get on board.

Of the commonwealth government’s estimated $74 billion debt load, about “$67 billion is now under some level of agreement or in a stage of restructuring support agreement,” FOMB Executive Director Jaresko said to reporters. These would include debts associated with the Sales Tax Financing Corp. (known as Cofina by its Spanish acronym), Government Development Bank and the Puerto Rico Electric Power Authority.

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/ Wednesday, June 19, 2019

Some of the mentioned highlights of the adjustment plan include: reducing the amount of outstanding commonwealthrelated bonds to less than $12 billion, a decrease of more than 60 percent, and a cut to the commonwealth’s debt service, from $43 billion to $21 billion, including principal and interest over the next 30 years.

An agreement on some $50 billion in retirement claims have also been reached with the so-called Retirement Committee and various unions. However, currently employed teachers have rejected their deal.

Meanwhile, the validity of the 2012 and 2014 GO bonds remains under litigation.

The claims of these two bond issues amount to $2.7 billion and $3.6 billion, respectively.

“The adjustment plan that has the support of the Committee of Retirees, the unions [and other creditors] is the best plan to move forward with, to remove the cloud that is hanging over Puerto Rico,” she said . “Our goal is to exit Title III next year in 2020,” Jaresko said.

The government of Puerto Rico has reiterated that it will not support a restructuring plan that includes pension cuts to public worker retirees.

The delay in the renomination process has not stopped the oversight board from reaching a slew of restructuring agreements with various creditors in the past few weeks.>Carlos Rivera Giusti

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/ Wednesday, June 19, 2019

Study Finds Southern

Aquifers Healthy

However, the Department of Natural and Environmental Resources says that responsible water management is key to aquifer stability

T Rosario Fajardo

rfajardo@wjournal.com

@RosarioWJournal

he aquifers in the southern area of Puerto Rico are in good condition and are not threatened in any way by the agriculture sector, according to a study by the Román-Más Foundation.

Speaking to THE WEEKLY JOURNAL, Tania Vázquez , Secretary of the Puerto Rico Department of Natural and Environmental Resources, defended the measures currently taken by her agency in order to safeguard the aquifers.

In 2014, the agency declared the Southern Aquifer as a “critical area” and it remains that way to this day. When an aquifer is declared in critical condition it means that either there is overexploitation of the water resource or that the quantity of the resource is deteriorating to the point that special management is required in order to address the situation.

Although this is the first time that a comprehensive study of the 179 wells in the south and southwest area of the island has been conducted, the local government questions the accuracy of its results.

Foundation President and hydrologist Ángel Román-Más, who led the study, said the aquifers are not being depleted, as some may be led to believe. In recent years “groundwater extractions [from aquifers] have been significantly reduced by around 73 percent,” he said. “In the Alluvial Fan of Salinas, groundwater withdrawals by the agricultural sector account for about 10 percent of the total extraction and less than 4 percent of the extractions in the late 1980s.”

Technology and best-use practices are the primary reasons, he indicated. “This reduction in the use of water for the agricultural sector responds to the implementation of more efficient, precise and smart irrigation systems established in all agricultural biotechnology companies.”

As previously reported by THE WEEKLY JOURNAL, Puerto Rico needs to learn from two drought experiences, the recent one in the western

area, and the other, more serious occasion, “And although it is established that agriculture when much of the island was affected by drought is not the biggest offender in the face of a lack conditions between 2014 and 2015. That drought of water, everyone—both small and large-scale and the water rationing that followed, had an farmers, as well as citizens—has an obligation to economic cost of at manage this resource least $23 million— responsibly,” he added. of which nearly Other key finds of $14 million was in the study include: agriculture.

Historical records As a result, experts do not reflect a pattern are calling for farmers of long-term reduction to take resiliency in water levels or a and sustainability deterioration in water measures, such quality associated as planting more with the intrusion of cover crops and brackish water from improving their water the sea.

-Sol Rosado, management.

The aquifers have president of PRABIA “The main finding of an extraordinary this independent study resilience to periods is that agriculture, at all of drought, due in part levels, is being practiced in a sustainable manner to conditions that prevent brackish water from and with respect to the natural environment, advancing too far within the underground systems. with a special focus on efficiency,” said Sol The aquifers have additional capacity to help Rosado, president of the Puerto Rico Agricultural agricultural development in the region without Biotechnology Industry Association. diminishing the availability of fresh water.

In the face of a lack of water, everyone—both small and large-scale farmers, as well as citizens—has an obligation to manage this resource responsibly.

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/ Wednesday, June 19, 2019

By Manuel Cidre

By Waleska Rivera

Entrepreneur & Founder of Los Cidrines

Entrepreneur & CEO Danosa Caribbean Inc.

Puerto Rico can Become

Why Puerto Rico?

an Agro-Industrial Center

N

ot everything Maria brought us was bad.

Although its passage devastated the already weak agricultural sector of Puerto Rico, some in the industry saw an opportunity for growth. Take for example a group of young farmers who took to the task of developing and growing a piece of land. With a consumer base already committed to buying local, everything seems to indicate a promising future for their project. Although food security is important, there are many other areas to explore.

Today, recent legislation (Farm Bill) that allows for the planting of hemp, threatens to vastly limit the use of our land for other high value products. We should focus on maximizing the use of land by producing multiple food products which could result in an increased economic performance and less food waste.

We must not forget that 70 percent of our land is occupied by cement, leaving 30 percent for agricultural use. That said, Puerto Rican agriculture has to focus its efforts in providing value to agriculture and the agro-industry by facilitating the harvest and processing of products in Puerto Rico so that there is a lesser need to import.

Puerto Rico possesses vast knowledge of manufacturing and has extensive experience dealing with permits and federal agencies such as the USDA, FDA and EPA. These factors give us an advantage over our competitors in the Caribbean and Central America by placing us first in line to become the agro-industrial center of the area imports.

With this in mind, I’d

like to share with you some recommendations to stay on the path to success within the agriculture industry: Maximizing the food technology laboratory of the UPR’s Mayagüez campus (RUM), transforming it into a center for research and development of agro-industrial products with an emphasis on genetically unmodified products (NON GMO) Promoting agriculture as an investment option for Act 20 and 22 beneficiaries as to further develop the agro-industrial sector in Puerto Rico.

Optimizing the local expertise with federal legislation (USDA & FDA).

Transforming available empty buildings of former 936 companies into manufacturing centers for agro-industrial products.

Optimizing the ports of Ponce, Mayagüez, and Ceiba (Port of Puerto Rico) for the import of agricultural raw material and export of processed agroindustrial finished products back to the country of origin and to the markets in the States.

Encouraging value-based agriculture focused on a valueadded strategy.

Promoting the cooperative movement in the development of agro-industries.

Organizing the Agricultural Department by type of crop and geographical region, thus creating a matrix structure where the needs of each type of harvest and each region are addressed, while assigning harvest managers or directors that are in charge of everything related to each category There is no need to question that “the table is served” to transform our agriculture into an innovative, different and relevant sector of our economy.

T

he literal translation of Puerto Rico is “Rich Port” and far from being a historical accident, it is still today a very accurate description of the island. In spite of its small territorial extension, of 100 miles long x 3.5 miles wide, throughout the centuries Puerto Rico has benefited from an enviable geographical location, in the northeast Caribbean Sea nearly 1,000 miles southeast of Miami, Florida. The Island is a territory of the United States with 3.2 million US citizens and its GPD amounts to $130 billion (2018).

We are one flight away from mayor US cities like Miami, New York, Dallas, Atlanta and others, American passengers have no need of a passport, and the currency is the USDollar so there is no foreign exchange risk.

How easier can it get to be in paradise?

Puerto Rico like many other countries has challenges and opportunities. We could say that today despite our economic and atmospheric hurdles we continue to be a rich port, with excellent opportunities for investment.

Unbelievably tourism only represents 7% of the island’s GPD while surprisingly manufacturing represent 48%. Manufacturing has always played and essential role in our economy, especially for the highly skilled labor resources.

Eleven of the twenty top global selling drugs manufactured by major Pharmaceutical such as Lyrica, Cymbalta, Crestor, are produced on the Island. We also manufacture Tylenol and Viagra among others.

Yet the best prescription for a strong economy is to develop a diverse portfolio of investment from abroad and strengthening local industries and businesses by exporting their products and services.

Knowing that Puerto Rico respects the rule of law and that it is part of the US regulatory system and US

customs zone, but at the same time it is foreign for tax purposes, definitely offers investors an interesting and unique combination.

Puerto Rico offers an array of incentives and great opportunities for investments, which are subject to approved decrees and based on different laws and types of investments.

Some of the most attractive incentives are: 1. Opportunities Zones program - US congress initiative to attract private investment to develop lowincome communities. As a long term investment the investor gets a deferral of capital gains and under certain circumstances a non-tax appreciation on investments in sectors such as tourism, energy, housing, infrastructure 4% fixed income tax rate subject to compliance and type of investment.

94% of the Island is considered and opportunity zone.

2. Puerto Rico exempts from capital gains tax persons who make the Island their residence 3. Exemption on income and property tax 4. 100% tax exemption on dividend distribution These are only some of the benefits resulting from investments made on the island. So when you ask yourself, why Puerto Rico? The answer is simple. We have so much to offer.

Yes, indeed Puerto Rico has beautiful beaches, top hotels, superb resorts, an excellent array of gastronomic experiences, a vibrant culture, profound history but that is not all. We have incentives, infrastructure, highly skilled professionals and welcoming kind people that honor the name we have had for centuries and offer a unique setting for investing and living on a permanent basis.

As a Puerto Rican Entrepreneur myself, I invite you to visit and invest in Puerto Rico, because now more than ever, we are open for business.

See and experience for yourself and find the answer to Why Puerto Rico?

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/ Wednesday, June 19, 2019

Inside the Fashion World of Luis Antonio With a career spanning more than three decades, the Puerto Rican designer has dressed celebrities from Jennifer López and Maisie William to beauty queens like Miss Universe 2001 Denise Quiñones

N Cynthia López

clopez@wjournal.com

@cynthia_lope

o detail is too small for Luis Antonio. None. From the meticulous way he arranges the window of his atelier so it stands out in an ocean of bland white storefronts at The Mall of San Juan -an upscale shopping center- to his all-black outfit, perfectly coiffed hair, broad smile, and the tattoo on his right arm which

nonchalantly emerges from under his sleeve.

Luis Antonio embodies his own aesthetic: a seemingly relaxed yet modern and sophisticated look with a playful touch.

“I have been doing this for years [giving interviews],” Luis Antonio exclaimed as he posed for the camera after changing his clothes for the pictures.

His attention to detail is all about taking pride in his craft. It is a business-oriented mindset, not excessive control or micromanagement. Halfway through the photo session, Luis Antonio candidly

admits that he doesn’t know which side is his best angle.

He does remember clearly that he started drawing at an early age and that he took art classes with renowned Puerto Rican painters Andrés Bueso, Carmelo Sobrino and cartoonist Arturo Yepez.

Born in San Juan and raised in Hato Rey -close to the financial district in San Juan- on July 7, 1966, Luis Antonio is the son of José Santiago, a merchant who sold German construction products, and Josefina Cerra, a teacher and stay-at-home

Luis Antonio enrolled at the Fashion Institute of Technology (FIT) in New York, one of the best fashion schools in the world. At FIT, he learned from haute couture to ready-to-wear to mass market. >Gabriel López Albarrán

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Miss Universe 2001 Denise Quiñones, actress and model Roselyn Sánchez, actress and singer Jennifer López and actor and producer Amaury Nolasco. >Mírame

mom who took care of her four children. Luis in the Big Apple that Luis Antonio found the space Antonio did not grow up obsessed with fashion he needed to explore and expand on his creativity, and though he enjoyed tagging along when his which was inevitably inspired by the vast availability mother visited her seamstress, his inclination was of fabrics, buttons, appliqués and resources found to become an architect. while walking down the Fashion District.

He always had a sense of style and great instincts.

Taking a bold chance, he left FIT when the “I was one of the few kids that at 10 years old asked demand for his designs intensified in Puerto Rico, my mom to buy me a opened his own shop suit,” he recounted. and hasn’t stopped Fast forward seven designing since. years and Luis Antonio “I became a designer was already designing when I realized it was and painting t-shirts a serious and lucrative that he sold to friends. job. It’s a lot of hard “At 17, I bought a work, not just a career car with the money I full of glamour and earned selling t-shirts,” parties like some -Luis Antonio, he noted. people think,” argued fashion designer While in his senior the designer that feels year of high school, more comfortable word of mouth about sketching than behind him got around and landed him the first gig at a sewing machine. a sewing workshop. Soon after, small retailers Along the way, he has dressed singers and actors sought his designs even before he formally studied like Jennifer López, Marc Anthony, Demi Lovato, fashion and design. Luis Antonio had not reached Luis Fonsi, Kany García, Roselyn Sánchez (“Devious 18, the legal age for drinking on the island, when Maids”), Carrie Underwood, Maisie Williams (“Game the imprint of what would be his own label and of Thrones”), Amaury Nolasco (“Prison Break”), creative vision began to surface. “I didn’t sew. I had and beauty queens Dayanara Torres, Denise good ideas. I did the designs, chose the fabrics and Quiñones and the recently crowned Miss Puerto they guided me.”

Rico Universe, Madison Anderson Berríos, just to After that brief stint as a fashioner, he enrolled name a few. Luis Antonio also had the opportunity at the Fashion Institute of Technology (FIT) in New to design the wardrobe used by Argentinean York, one of the best fashion schools in the world. actress Mía Maestro in the comedy “Meant to Be”, a At FIT, he learned about haute couture, ready-tocollection exclusively sold at Saks Fifth Avenue and a wear and mass market fashions. It was while living line of shoes for Novus footwear.

From a 15-year-old girl to her 60-year-old grandmother, any woman can wear one of my dresses.

When it comes to style, it can be said that the collections follow a modern and cosmopolitan approach. Critics exalt his romantic and feminine flair. Luis Antonio has a keen eye for detail and an uncanny ability to envision the pleats falling on a skirt, a blouse cinching at the waist or the flow of a chiffon dress. He can also move swiftly from ruffles, bows, and vibrant colors to soft silhouettes and monochromatic tones.

“There is still a perception that this is not a serious job and we don’t receive the government help that other countries give to their designers,” Luis Antonio argued. “Here on the island, the fashion industry is at the mercy of our own efforts.

If we had more government support we could become an important mecca in Latin America and the United States.”

The fashion industry is a serious business. The global apparel market was worth $2.5 trillion in 2017, according to McKinsey and Company, a global consultancy group. Womenswear makes up more than half (53 percent) of global retail spending. By comparison, spending on men’s and children’s clothes is relatively modest – 31 percent and 16 percent respectively.

Influenced by the work of other fashion icons like Christian Dior, Cristóbal Balenciaga, and his fellow countryman Nono Maldonado, Luis Antonio affirms that his designs are timeless.

“That is the secret, although I design haute couture clothing, I have focused on a commercial prêt-à-porter line with a touch of high fashion that is ageless,” he insisted. “From a 15-year-old girl to her 60-year-old grandmother, any woman can wear one of my dresses.”

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/ Wednesday, June 19, 2019

BadBunny takes his “new religion”

Bad Bunny sang “La Romana” with the Dominican artist El Alfa. >Courtesy Bad Bunny

to Santo Domingo

Still setting records, ever humble and thankful, the 25-year-old Billboard AwardWinning artist who in 2018 had a breakthrough year and became one of the top 10 most streamed artists worldwide takes over the DR in a majestic way Marimar Rosario

correccion@wjournalpr.com

W

@Mmar1212

atch out! It’s the almighty, all-seeing third eye! Front and center… as he comes onto the stage at the Quisqueya Juan Marichal Stadium on June 15, 2019 in Santo Domingo, Dominican Republic. The record-setting

/ Wednesday, June 19, 2019

27,000-plus crowd goes wild…having anxiously waited over two hours to see him. Dominican artist El Nene la Amenaza Amenazzy’s opening act served only to heighten the experience of seeing the main attraction: Puerto Rican reggaeton artist Bad Bunny.

Cheers, yells, a palpable excitement, blue blinding lights and laser beams set the stage for Bad Bunny, the 25-year-old Billboard AwardWinning artist who in 2018 had a breakthrough year and became one of the top 10 most streamed artists worldwide. Jumping onto the stage while singing “Ni bien ni mal”, he kicked off an amazing show that lasted an hour and fortyfive minutes.

Dressed conservatively by his standards, with brown pants, a white tee over a Louis Vuitton long sleeve shirt, a jean vest and using white sunglasses and a white surgical mask as accessories, he only stopped singing to thank the people of Santo Domingo for supporting him.

“Thanks to each and every one of you who is here with this “Bad Bunny”. Thanks for sharing this night with me, it means a lot to me because it’s a historic night, another one for the books. The Dominican Republic has supported me since the very beginning and has continued supporting me through it all, the same way that I have always demonstrated my love to you,” he stated.

Bad Bunny went on to sing “200mph”, “Quién tú eres”, “Estamos bien”, “Soy peor” and “Sensualidad” before rendering a tribute to David “Big Papi” Ortiz, the Dominican baseball player shot in Santo Domingo on June 9, 2019. Set to the tune of Fernando Villalona’s “Dominicano soy”, the 2-minute-long video tribute featured some of Ortiz’s philanthropy work and of his most memorable moments in baseball as Red Sox player #34. Wishing him a speedy recovery and sure that he would have been front and center at the concert to show his support, he went on to sing “Tú no metes cabra”.

Of course, “El Conejo Malo” doesn’t travel alone and for Saturday’s event he was joined on stage by Arcángel, with whom he sang “Tú no vive así” and “Me acostumbré”, before running to a second stage in the middle of the crowd to sing “Soltera” with Lunay, and “Fuego”, “Dema ga ge gi go gu” and “La Romana” with El Alfa.

Drawing impressive cheers and yells from the audience, the latter song becomes the cincher on Bad Bunny’s reggaeton reign in the Dominican Republic.

80s style graphics on big screens, a firework spectacular and the songs “Callaíta” and “Como antes” precede his closing one, “Chambea”. The crowd goes wild, Benito Martínez Ocasio, aka Bad Bunny, plays his part, every bit the artist in full swing dancing and jumping all over the stage; enjoying every minute of his appearance.

Delighting in every yell and fanatical expression of appreciation, the crowd and Bad Bunny seamlessly enjoy the moment. Endless memories forever made in a spectacular show that made you forget there was no air conditioning while you danced your heart out to tunes that seemed to move you from within.

>Courtesy Bad Bunny

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Azabache Fine Dining

in a Modern Atmosphere

With an elaborate menu and trendy setting, the restaurant caters to distinctive tastes Giovanna Garofalo

The menu includes brunch, lunch, and dining options. >Courtesy

S

ggarofalo@wjournal.com

@giopgarofalo

anturce’s highly popular Ponce de León Avenue is home to a myriad of bars, pubs and restaurants. But for a truly unique experience in one of San Juan’s most beloved urban areas, Azabache Restaurant is ready to welcome visitors with open doors (and delicious food!).

THE WEEKLY JOURNAL sat down with owner Wilson Guzmán to discuss Azabache’s concept,

A large cellar filled with over 200 bottles of wine separates the bar from the dining area. >Courtesy

menu and distinctive elements.

The restaurant, located at Metro Plaza Towers, offers valet parking with occupancy for up to 210 vehicles. On the outside, black stairs and a minimalist logo lead up to the entrance. Once inside, the first thing visitors come face to face with is the open kitchen, with only glass separating the chefs from the guests.

Visitors can marvel at the spacious and modern open floor plan, decorated in monochromatic tones of dark grays and black, with hints of color from scattered vivid paintings and plant accents on every table. The dark hues are an ode to the restaurant’s name, Azabache, which is a black amber commonly used in the Caribbean.

The white walls of the large bar feature LED lights that change colors to create a fun and trendy environment. Meanwhile, a colossal crystal partition standing between the bar and the dining area shelters no less than 312 labels of red,

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white, and sparkling wine—all of them personally handpicked by Guzmán.

With such an extensive selection, THE WEEKLY JOURNAL asked Guzmán what his favorite wine in the collection was.

“To me, the best wine is the one that I share with my friends. That to me is very valuable, more so than any grape,” he responded.

Family values lie at the root of Azabache.

Guzmán founded it along with his two younger brothers, Chef Carlos Guzmán, who designs the menu, and Pastry Chef Ricardo Guzmán. Azabache strives to provide high-quality dining and service but in a cool and familiar environment—something that differentiates it from Guzmán’s other restaurant, Vendimia, located on Roosevelt Avenue in Hato Rey. Azabache offers brunch, lunch, and dinner options within its elaborate menu. The items and ingredients themselves reflect Guzmán’s goal to cater to distinguished palettes.

“We make five different types of bread, and we also create our own butter, marmalades, and pasta. We create all of our confections and everything is well designed,” the proprietor said.

Guzmán explained that the menu changes often and that Azabache is presently offering its springsummer options. In this current season, the most requested dining option is the boneless buffalo short ribs, which are braised with dark beer and served with cassava and manchego gnocchi with sage brown butter and candied pistachio crumble.

Another fan favorite is the duck leg confit, served with white bean stew and garlic-herb roasted purple potatoes.

The menu also features appetizers—such as lamb and wagyu beef croquettes and a salmon and tuna tartare duo—as well as several soups and salads. For lunch, try the Provençal pasta with grilled shrimp or enjoy a lobster egg benedict for brunch.

Azabache owner Wilson Guzmán wanted to offer haute cuisine in an informal--but not too informal--setting. >Courtesy

“Each dish is well designed, and each cocktail is well thought out. It is a very interesting proposal and at the same time, very different. I think we lean more toward a little bit of fine dining, but without a somber environment. We also try to appeal to that audience that likes informality, but not too informal,” Guzmán explained.

With main course prices ranging between $18 and $35, averaging in the mid- to high- twenties, the restaurant is not exactly a visit many would make casually. However, the cool, relaxed atmosphere and trendy interior design offset the pomposity that may be found in other luxury eateries.

Classic Cocktails with a Twist

The cocktail lineup was designed by renowned Puerto Rican bartenders Ariel Rosario and Josué Echevarría. Rosario has won several competitions around the world and starred in the 2014 reality tv series ‘Signature Cocktails.’ For his part, Echevarría has received critical acclaim over his signature cocktails and has chaired bars in the San Juan Convention Center and the Serafina Resort, among others.

Of the twelve cocktails featured on the menu, bartender Joel Iglesias talked most enthusiastically about ‘Secret in a Bottle’ and ‘Old Cuban.’

The former of these is made with Woodford Reserve Double Oaked, Angostura house bitters, orange peel-infused beer reduction, Islay Whisky, bourbon-infused cherry, Cherrywood smoke, and garnished with an orange peel. Iglesias explained that this drink is essentially an old-fashioned, but with a twist.

Highly Flexible Schedule

Azabache’s brunch and lunch options are available from Tuesday till Friday from 11:00 a.m. until 4:00 p.m. and Sunday as of 10:00 a.m.

At 4:00 p.m. on weekdays, the kitchen takes a small break, but the restaurant itself remains open.

At 6:00 p.m. the kitchen resumes its operations and offers dinner options until 10:00 p.m. on Tuesdays and Wednesdays and 11:00 p.m. on Thursdays and Fridays.

On Saturdays, the restaurant is open from 6:00 p.m. until 11:00 p.m.

The menu was designed by Chef Carlos Guzmán, Wilson Guzmán’s younger brother. >Courtesy

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/ Wednesday, June 19, 2019

Puerto Rico

is Much More than a Language Madison Anderson Berríos is focused on winning the sixth Miss Universe crown for Puerto Rico Mariam Echevarría

mechevarria@elvocero.com

M

@mariammichelle

adison Anderson Berríos lives without fears, proud of her essence and her Puerto Rican roots. A jovial woman of great inner strength, she currently has her sights set on bringing to Puerto Rico its sixth Miss Universe crown.

The selection of this 23-year-old has provoked mixed reactions from the public. Although revered as a beauty, Anderson Berríos has garnered criticism for being born in Florida and speaking English as her first language.

“I wanted to be Miss Puerto Rico to represent my beautiful island and the diaspora, which maintains the culture, traditions and love of their homeland in their heart. I also want the world to know that Puerto Rico is much more than a language and that there is a lot of talent,” said the beauty queen.

It should be noted that Madison is not the first Miss Universe Puerto Rico (MUPR) not born on the island. Bodine Koehler, originally of Holland, carried the crown in 2012.

The beauty of 5’10” in height, daughter of American Adam Anderson and Puerto Rican

Belinda Berríos, had a difficult moment with the first question posed by the jury due to issues speaking the Spanish language, which generated boos from the audience that came together at the Luis A. Ferré Performing Arts Center.

Madison Anderson Berríos represents the municipality “I was ready for that. It always happens in of Toa Baja in Miss Universe Puerto Rico. beauty contests. At that moment I thought about >Carlos Rivera Giusti my work, my sacrifices and how I always managed to maintain my smile and self-confidence. I cannot change my essence, “ she said, describing herself it should be like that, but you have to enjoy it so as a “very strong woman.” that you can have a good time,” said Madison, who On one hand, she barely speaks Spanish. will use her influence to raise awareness about On the other, her domestic violence. knowledge of English Although she can positively impact follows a strict diet and her performance in the exercise regime, she Miss Universe pageant. will gladly satisfy her MUPR 2019 cravings every once in competed in Miss a while.

Florida USA Teen 2014, “I’ve been waiting was the third finalist months to eat rice, in the Miss Grand beans and tostones International 2016 with mayo-ketchup. pageant, representing Also, alcapurrias and Puerto Rico, and in tres leches dessert,” -Madison Anderson January of this year was she revealed between the first finalist in Miss Berríos, Miss Universe Puerto Rico 2019 laughter.

Florida USA 2019, as Anderson Miss Windermere.

Berríos, who studies She admits that the road to Miss Universe 2019 communications in New York, revels in gaining will be arduous and challenging. However, she cultural knowledge. “That is my passion, to connect trusts the MUPR team, led by Denise Quiñones, with people of different cultures,” she revealed Miss Universe 2001. with a smile, who despite having slept little after “It’s a hard road to travel and it’s natural that her coronation, exhibited contagious energy.

I wanted to be Miss Puerto Rico to represent my beautiful island and the diaspora, which maintains the culture, traditions and love of their homeland in their heart.

25 < The Weekly Journal > Wednesday, June 19, 2019

DUBAII

MICHAEL

"Haz tu donativo a: /SERdePuertoRico a través de "

www.ser.pr

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Public Montessori Schools Thriving in Puerto Rico that the parents of the other 30 schools were also part of the campaign.”

With the might of all 45 Montessori schools involved in the lobbying effort, the 15 Montessori schools were saved. “That gives you an indication Rosario Fajardo of the communities’ strong commitment and rfajardo@wjournal.com @RosarioWJournal the importance of participative government and parental involvement. They are working for the t may sound counterintuitive, but while common good,” she said. public schools are closing due to low Montessori is a method of education that is enrollment levels, public Montessori focused on the child, experiential learning and schools are thriving, as local communities collaborative work and are seeking play among children ways to of different ages. keep their Children are taught neighborhood schools to make decisions open. about their learning, at In fact, public their own pace, while Montessori schools parents and teachers have emerged as an are actively involved in alternative to school their child’s educational closings, especially experiences. in rural areas, with García said the 45 -Ana María García, the number growing public Montessori executive director of the Instituto from 12 schools in schools are mainly Nueva Escuela 2012 to 45 around the elementary levels, island today, located with around five also in such municipalities accepting infants and as Aibonito, Yabucoa and Vieques. In total, the 45 toddlers. Another eight have intermediate and high Montessori schools enroll 14,500 children. school students.

“We will have another 10 more schools open for These mixed-age the next school year. We have experienced organic and mixed-grade growth since 1990 when we opened the first schools also enable public Montessori school, Juan Ponce de León, in local communities Guaynabo’s Juan Domingo barrio, said Ana María to keep their public García, executive director of the Instituto Nueva schools open since Escuela (INE), which supports the growth of public the combined Montessori schools on the island. Founded in 2008, student enrollment the INE has trained more than 500 teachers in the make it more Montessori method. feasible to operate There is a waiting list of 200 students, while the facilities. another 20-25 public schools islandwide have A May 2019 also inquired about the Montessori method, she study by Hunter pointed out.

College, “Population “Parents and local communities are looking Decline and School for ideas to deal with school closures, improve Closure in Puerto academics and prevent school violence,” she said Rico,” supports to THE WEEKLY JOURNAL, explaining the increase the expansion of in public Montessori schools. public Montessori After Hurricane Maria in Sept. 2017, the schools and similar Education Department had 15 Montessori schools community schools on its list for closures, García said. “The parents on the island, as organized and resisted. What was amazing was well as re-purposing

10 more slated to open in the next school year

I

Parents and local communities are looking for ideas to deal with school closures, improve academics and prevent school violence.

closed schools to serve as community centers.

“Partly in response to the impact that school closing is having in disadvantaged communities, public Montessori schools have emerged as viable bottom-up policy to prevent school closings or reopen those that have been closed. Public Montessori and other similar community schools provide quality education to disadvantaged communities in higher-risk rural areas and contribute to the population and economic stabilization of these communities,” Hunter College said.

Due to the island’s continuing demographic challenges, which include fewer school age children, the Education Department has been closing public schools with very low student enrollment. During 2018-2019, the agency closed 265 public schools islandwide. An analysis by Hunter College found that 65 percent of schools closed were in rural areas, and of those schools, 63 percent were elementary schools.

“Replacing emptied school buildings or instituting the program in facilities at risk of closing with Montessori-like programs can reduce travel time to consolidated schools, reduce future dropout rates, increase parental and community participation in education and lessen the burden of communities already suffering from further depopulation,” Hunter College pointed out.

Ana María García, executive director of the Instituto Nueva Escuela. >Courtesy

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Noche de San Juan On the evening of June 23rd, Puerto Ricans celebrate La Noche de San Juan (St. Johnâ&#x20AC;&#x2122;s Eve), which commemorates the birth of St. John the Baptist. According to legend, you must jump into a body of water backwards at least three times to have good luck for a year. You can choose to celebrate like a local by heading to your preferred beach or you can head to any one of the hotels hosting Noche de San Juan parties.

When: Sunday, June 23 Where: Various places throughout the island.

San Juan Community

Library Book and Bake Sale San Juan Community Library Join the midsummer book and bake sale featuring a story time for kids. All books will be half off and the pastries will have been baked with love by library volunteers.

When: Saturday, June 22, 10:00 a.m. to 1:00 p.m.

Where: San Juan Community Library Urb. Apolo, Topacio Street San Juan, PR 00970

Story Time

Author Larissa Bouyett will read from her childrenâ&#x20AC;&#x2122;s books. Come, listen, and enjoy!

When: Saturday, June 22, 11:00 a.m.

Where: San Juan Community Library Urb. Apolo, Topacio Street San Juan, PR 00970

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Festival Viequense A celebration of Vieques’ culture— the 41st edition of this festival will be held at the Conde de Mirasol Fort. During the weekend festivities, attendees will enjoy a book and artisan fair, an art exhibit and musical presentations.

When: Friday, June 21 to Sunday, June 23 Where: Fortín Conde de Mirasol, Vieques

MagnetIC MagnetIC serves as a platform for influencers and aspiring influencers to learn about the business, expand their knowledge, and network with peers. Speakers: Deliana Olmo, president of DOT Communications, will speak about influencing and social responsibility and Loraima Tolentino will offer a talk on influencer marketing.

When: Friday, June 21, 9:00 a.m. to 12:00 p.m.

Where: Ana G. Méndez University, Carolina Campus, Carr.190 Sabana Abajo, Carolina

Steel Pulse

The Legendary band, Steel Pulse is coming back to Puerto Rico. With reggae, roots and dud, their music reflects four decades committed to bettering mankind. Steel Pulse continues to be revolutionary in engaging controversial topics of racial injustice and human rights on a global scale. Get tickets at www.vivobeachclub.com When: Saturday, June 22, 7:00 p.m. to 2:00 a.m.

Where: Vivo Beach Club, Carolina

Coda 21 8x8 Solsticio Fest 3 The Puerto Rican dance company CODA 21 will delight viewers with eight of their most emblematic pieces of the past eight years.

When: Saturday, June 22, 8:30 p.m. to 10:30 p.m.

Where: Luis A. Ferré Performing Arts Center, Santurce

Art, music, crafts and vegan food.

When: Friday, June 21, 6:00 p.m.

Where: Mercado Agrícola, Aurora Street, Ponce

Craft Beer Academy Craft Beer Academy by V. Suárez. The event includes a dinner and a six pack. Tickets: Eventbrite.com When: Thursday, June 20, 6:00 p.m.

Where: Pa’ rriba, Popular Center, Hato Rey

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Health Watch Preventing

Mosquito-Borne diseases Starts at Home

Aedes aegypti mosquitoes >Josian E. Bruno Gómez

Aedes aeqypti has developed resistance to insecticides

R Rosario Fajardo

rfajardo@wjournal.com

@RosarioWJournal

ainy season is here and that means more mosquitoes. And while repellents do the job when needed, the best way to fight the spread of the Aedes aeqypti, the main carrier of dengue fever, Zika fever and chikungunya virus, is to ensure there are no containers in your home that could serve as breeding grounds.

Contrary to what many people may believe, insecticides are no longer effective because the mosquito has developed resistance due to overuse of the chemicals, according to Grayson Brown, a public health entomologist and executive director of the Puerto Rico Vector Control Unit.

“The Aedes aeqypti is the single most dangerous insect in the world and kills millions of people every year,” Brown said before the Rotary Club of San Juan. “Unfortunately, it is the most common mosquito in Puerto Rico and the Caribbean.” He explained that the mosquito is not native to the Caribbean, but was introduced to the Americas in the 1600s as part of the slave trade.

Since the Aedes aeqypti has developed resistance to insecticides, the best course of action is to prevent them from breeding in the first place.

Make sure there are no containers with standing water—whether in trash, planters, plastic bags, bottles and the like—where mosquitoes can lay their eggs.

This is very important, as 40 percent of homes Late last year, the vaccine also received approval on the island have the deadly bloodsucker, Brown from the European Commission, for areas where said, noting that the mosquito is often found in dengue is endemic, such as Guadeloupe and urban areas. Surprisingly, the eggs can be dormant Martinique, which are overseas and insular regions for as long as five years and if the breeding area of France. gets wet, the larvae will hatch.

Since Puerto Rico has a tropical climate, the Scientists are also developing new Aedes aeqypti is around all year long, technology to fight Aedes aeqypti. with higher prevalence in the rainy “Larvicide spray works to kill just season. “We can have an outbreak the larvae. Use it once a week of vector-borne diseases at any and it is pretty effective,” time… Besides the issue of Brown said. Places like solid waste management Broward County in Florida on the island, travelers, like are already following this those on cruise ships, is strategy. “Another is to another concern,” Brown release sterilized males said. in the environment and The Vector Control after mating with females, Unit is a private nonprofit the eggs don’t hatch,” he organization, founded in added, noting that work is 2016 by the Puerto Rico also being done to develop Science, Technology and new chemicals for Research Trust. With insecticides. a budget of $14 >Carlos Rivera Giusti Meanwhile, the million a year and U.S. Food and Drug a staff of about 60 Administration (FDA) team members, the has recently approved Vector Control Unit Dengvaxia, the first conducts research vaccine to fight dengue, and helps the P.R. for at-risk areas like Health Department Puerto Rico and the fight mosquito-borne -Entomologist U.S. Virgin Islands. The diseases.

Grayson Brown, executive director FDA approval has strict Brown is the past of the Puerto Rico Vector Control Unit restrictions: only people president of the

The Aedes aeqypti is the single most dangerous insect in the world and kills millions of people every year.

ages 9 to 16, who have had a previous infection of dengue and live in endemic areas can receive Dengvaxia. Brown said the vaccine should be available in Puerto Rico next year.

Entomological Society of America. With more than 40 years of experience, his work and research have been conducted in Africa, the Pacific Islands, Southeast Asia and South America.

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BY ROSI ALONSO, CCIM

President, Puerto Rico CCIM Chapter www.ccimconnect.com/ccimpr

C

COMMERCIAL INVESTMENT REAL ESTATE

ommercial real estate is everywhere – shopping centers, office buildings, industrial properties, hotels, apartment buildings, land and more. The term Commercial Investment Real Estate is used to describe real property that generates a profit whether it is by rental income or appreciation. Simply stated, the operation of a property may produce income while the increase in the property’s value over time results in appreciation.

Opportunity zone legislation, both federal and local, have made Puerto Rico a magnet for commercial investment real estate. The Law for Development of Opportunity Zones in Puerto Rico was signed on May 21 and provides tax benefits for local investors as well as additional benefits for federal tax paying investors.

The goal is to encourage long term investment in economically distressed areas that will promote development and create jobs. Investors who invest a recognized capital gain in a Qualified Opportunity Fund and elect to defer the tax on that gain do not have to live in Puerto Rico in order to enjoy the federal tax benefits. Furthermore, over 97% of the Island qualifies.

Investment opportunities abound, yet, the return on investment and risk will

vary greatly from property to property. Whether you are a proprietor looking to lease or sell or an investor seeking property, the right financial analysis skills and knowledge of the market is a must to achieve a positive outcome.

The CCIM Institute is commercial real estate’s most influential professional organization, with members closing $200 billion annually in commercial real estate deals. The CCIM designation represents proven expertise in financial, market, and investment analysis, in addition to negotiation.

CCIM designee members are leading experts in commercial real estate investment. They are brokers, appraisers, property managers, asset managers, lawyers, accountants and bankers. Annually, CCIMs average 42% more transactions then a typical broker specialist. CCIM designees are able to help their clients: • Minimize risk • Enhance credibility • Make informed decisions • Close more deals Find a CCIM by specialty and location at www.ccim. com. Puerto Rico has twenty active CCIM designee members. Of these, fourteen are members of the Puerto Rico CCIM Chapter (www.ccimconnect. com/ccimpr). They are industry leaders and best equipped to identify the right property and do the investment analysis that is required.

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