Portfolio Management Monitoring Platform and Subrecipient Management
Tidal Basin integrated with USVI Office of Disaster Recovery to provide guidance on all aspects of the Territory’s recovery. We continue to provide valuable representation for the Territory with Federal Agencies and all recovery activities.
Tidal Basin began coordination following Hurricanes Irma and Maria. Challenges to recovery efforts in the US Virgin Islands called for the need of an experienced team with a proven history of success across multiple funding streams. Our team assists the USVI Office of Disaster Recovery with the management and monitoring efforts to ensure recovery progress for subrecipients across all funding streams.
USVI’s Office of Disaster Recovery, established in 2019, serves as the center of coordination for the anticipated $8 billion in federal funding for the Territory. Logistical and other challenges unique to the USVI have hampered recovery efforts, jeopardizing recovery funding. Tidal Basin assists ODR by evaluating projects for risk identification and mitigation strategies, resource allocation and management, project schedule development and acceleration, cost management, and quality management. Our team is developing a prototype management platform to manage and monitor over 1,600 recovery projects, hundreds of subrecipients and billions of dollars in recovery funds across all recovery funding streams.
Initial project staffing and support established a Portfolio Management system, data collection, program management, and reporting to support the management of all federally funded disaster projects. Current funding allocations for federal funding streams include $1.02 billion in CDBG-DR funds, $2.25 billion for FEMA PA funding, $65.6 million in FEMA HMGP funding, $38.3 million in FHWA-ER funding, $538.7 million in SBA loans, and over $111.2 million in multiple other funding streams. Current allocations total over $4.07 billion to the Territory, with an anticipated total of nearly $8 billion in federal allocations over the course of the recovery efforts. Initial operations have commenced with the USVI Office of Disaster Recovery (ODR), as Tidal Basin staff align with their recovery managers and deliver initial contract requirements. Tidal Basin and partners are leading efforts of the design and build out of the custom portfolio management. This is the management platform that Tidal Basin and subrecipients will use to manage and monitor recovery progress across all funding streams.
Additional focus will soon be working with the Water and Power Authority (WAPA) to facilitate their CDBG-DR and PA funded recovery projects. Current projects include solar farms, underground and composite pole installations across the 3 islands.