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Senate panel presses PREPA for inventories, valuations in review of property sales under Resolution 913
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Summary
At a hearing on Resolution 913, PREPA officials told a Senate committee they have an inventory of dozens of properties proposed for disposition but lack staff and funds for appraisals. The committee ordered PREPA to deliver cadastral IDs and book values within 10 days and sought a meeting with SEDVI/AFAF to pursue valuations.
SAN JUAN — A Senate committee hearing on Resolution 913 pressed officials from the Puerto Rico Electric Authority (PREPA) on April 24 over plans to evaluate and potentially sell or lease real properties owned by the authority, including any holdings tied to the former Roosevelt Roads base.
The committee, chaired by a sitting senator (not named in the record), began the hearing by asking PREPA legal counsel Lic. Leonel Santa Crispín and Eng. Ricardo Figueroa Colón, head of properties and facilities, to explain an inventory PREPA submitted under the resolution. Santa Crispín said PREPA had presented a list of 36 properties that the board has discussed and is preparing to refer to SEDVI (the commission for evaluation and disposition of real property under the Puerto Rico Fiscal Agency and Financial Advisory Authority, AFAF). Santa Crispín said PREPA lacks in‑house surveyors and certified appraisers and therefore sought SEDVI’s assistance.
“Nos ceñimos a la citación…presentar si alguna propiedad de la autoridad que estuvieran dentro de las facilidades de Roosevelt Roads,” Santa Crispín told the committee, noting PREPA would verify whether any equipment or files remain at the former base. Earlier in the hearing a committee member asked directly whether PREPA held any immovable assets in Roosevelt Roads; counsel replied there were no PREPA‑owned immovable assets there but said leftover equipment or materials might remain and would be checked.
Why the hearing matters: the committee is seeking to ensure that any disposition of public property follows the legal process, achieves fair market value and that proceeds are handled transparently. The law cited in the record (referred to as Law 508) and PREPA’s own procedures for asset disposition were discussed as potential triggers for legislative approval or oversight.
PREPA officials told the panel that many of the properties were acquired decades ago and that PREPA’s current staff has shrunk dramatically — from a historical peak in the thousands to roughly 255 employees today — leaving key functions such as appraisal, cadastral surveys and rent studies without assigned personnel. Eng. Figueroa said the authority evaluates whether properties are economically viable to retain and recommended disposition when rehabilitation costs exceed expected returns.
“Tenemos este tipo de propiedades…nos interesa disponer de ellas y a ver cómo podemos entrar en ese acuerdo,” Figueroa said, describing PREPA’s outreach to SEDVI and to outside contractors to carry out the technical work needed for sale or lease.
On timing and next steps, the chair required PREPA to provide a table listing each property, the book (accounting) value, and the cadastral identification number within 10 days so the committee can locate and verify parcels. PREPA agreed to deliver the requested material and to confirm whether any equipment remains at Roosevelt Roads.
PREPA described three procedural routes: (1) SEDVI/SETBI could process disposition under its regulations (charging a percentage fee per its rules), (2) PREPA could run competitive procurements to hire surveyors and appraisers if the board or negotiado approves budget additions, or (3) PREPA could contract private firms directly if permitted and budgeted. Officials said SEDVI has requested a set of documents to determine whether it can run the full disposition process; if SEDVI cannot, PREPA will seek funding in the next fiscal year to contract the necessary professionals.
The committee and PREPA also debated whether scattered, non‑generation properties fall under the public‑private partnership statute (Law 508) and thus would require additional legislative approvals. Counsel characterized that as a legal interpretation for later review by advisors: “Digo obviamente es una cuestión de interpretación legal…,” he said.
On financial controls, the chair pressed how sale proceeds would be used. PREPA officials said proceeds would remain with the authority and be applied to PREPA projects and obligations; the board is considering a policy to define the use of proceeds and the committee asked that the policy be clarified at a subsequent proceeding.
No final disposition or vote was taken during the hearing. At 11:07 a.m. the committee recessed the proceedings and scheduled follow‑up based on the information PREPA agreed to provide.
Quotes representing key points:
• Lic. Leonel Santa Crispín (PREPA legal counsel): “Nos ceñimos a la citación…presentar si alguna propiedad de la autoridad que estuvieran dentro de las facilidades de Roosevelt Roads.”
• Eng. Ricardo Figueroa Colón (head of properties and facilities): “Nos interesa disponer de ellas y a ver cómo podemos entrar en ese acuerdo.”
• Chair (Senator): the committee expects PREPA to deliver a descriptive table with book value and cadastral numbers within 10 days.
What the committee asked PREPA to deliver: a descriptive inventory of the listed properties, the book (accounting) value for each, cadastral identifiers to locate each parcel, and confirmation about any equipment remaining at Roosevelt Roads. The committee also requested confirmation about whether SEDVI can run a full disposition process under its rules; if not, PREPA will pursue a budget request for outside appraisal services.
The hearing is ongoing in the sense that the committee has set a short timetable for information and will reconvene or follow up once the requested materials and the SEDVI response are available.
