If you have any questions in regards to the above, please do not hesitate to contact our offices so that we may explain the amendments to the provisions of the Code in more detail. Our address is:
Fiddler González & Rodríguez, P.S.C., P.O. Box 363507, San Juan, PR 00936-3507. Our fax (787) 759-3108.
We welcome your questions and comments.
Juan Carlos Gómez Escarce
María L. González Hernández
Pedro J. Reyes Bibiloni
RETAIL/WHOLESALE PROJECTS NOW SUBJECT TO REGIONAL ECONOMIC IMPACT STUDY REQUIREMENT
On June 24, 2015, the Planning Board Regional Economic Impact Studies Regulation (Regulation No. 8604) became effective. The Regulation implements Act 62-2014, known as the Act to Promote Small and Midsize Businesses, and requires certain projects to submit a Regional Economic Impact Study as part of the permitting requirements to obtain a development permit from the Planning Board, the Permits Management Office or an autonomous municipality.
The Regulation requires a Regional Economic Impact Study in the following cases: 1) any proposed retail and/or wholesale project with a 65,000 square feet or more of sales and warehouse area; 2) any proposed retail project of mixed merchandise with a 15,000 square feet or more of sales and warehouse area.
The regional economic impact studies must evaluate the net impact on the economic conditions of the region, including the economic impact of the proposed project on existing commercial establishments in the region, regional employment data, and municipal or state income to be generated by the project, as well as the environmental and social impacts of the project. The Planning Board will establish a list of certified professionals and/or companies approved to conduct the economic impact studies. All regional economic impact studies must be submitted to the Trade and Export Company for comments, prior to any permit approval.
New projects, as well as projects currently undergoing permitting procedures, are subject to compliance with the Regulation.
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©2016 Fiddler, González & Rodríguez, P.S.C. This Watch has been prepared by Fiddler, González & Rodríguez, P.S.C. for informational purposes only and does not constitute legal advice. This information does not create, and receipt of it does not constitute, a lawyer-client relationship. Readers should not act upon this without seeking advice from professional advisers. Fiddler, González & Rodríguez, P.S.C. and its members assume no responsibility to inform you of additional changes in law or any other legal issues related to the matters discussed in this publication.
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