ICF Awarded New $51 Million Disaster Management Contract in Puerto Rico

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ICF Awarded $51 Million Disaster Management Contract

On January 30, 2023, ICF, a global consulting and technology services provider, received a $51 million contract from the Puerto Rico Department of Housing (PRDOH). This three-year contract aims to support the commonwealth's single-family disaster recovery and mitigation programs following hurricanes Irma and Maria. ICF's responsibilities include expanding its implementation support for Community Development Block Grant programs, focusing on repairing homes and enhancing resilience against future disasters. This contract underscores ICF's ongoing partnership with PRDOH to facilitate recovery efforts and build local capacity.

Positive

• Awarded a $51 million contract by PRDOH.
• Contract supports disaster recovery and resilience efforts post-hurricanes Irma and Maria.
• Three-year term with potential for 24-month extension.
• Reinforces ICF's commitment to local talent and community engagement.

Negative

• None.

Work Will Extend Repair/Reconstruction Efforts and Build Community Resilience Across the Island

RESTON, Va., Jan. 30, 2023 /PRNewswire/ -- The Puerto Rico Department of Housing (PRDOH) recently awarded global consulting and technology services provider ICF (NASDAQ:ICFI) a new $51 million contract to support the commonwealth's single-family disaster recovery and mitigation programs. The contract has a term of three years, with an option to extend for an additional 24 months.

Under the contract, ICF will expand its implementation support of PRDOH's Community Development Block Grant for Disaster Recovery (CDBG-DR) and Community Development Block Grant for Mitigation (CDBG-MIT) grant programs to repair and rebuild homes damaged by hurricanes Irma and Maria and build resilience against future natural disasters. It represents a significant expansion of ICF's large and growing CDBG-MIT project portfolio.

"Our primary goals in Puerto Rico remain unchanged: support a resilient recovery while investing in exceptional local talent to build future capacity," said Andrew H. LaVanway, ICF senior vice president for disaster management. "We, in partnership with PRDOH, are driven by results, and this award is a testament to the ability of our team—staffed, managed and led by Puerto Ricans—to get families back into safe, resilient homes."

ICF has successfully managed recoveries for the largest and most complex natural disasters in U.S. history by bringing together best-in-class implementation, compliance, environmental review, construction management, risk management, data reporting and grants management experts to swiftly resolve clients' most complex problems. The company supports communities across the disaster management lifecycle and is an industry leader in end-to-end mitigation services—from assessment to public engagement and planning through implementation.

Read more about ICF's efforts to help rebuild in Puerto Rico, and its disaster management and climate and resilience services. 

About ICF
ICF is a global consulting and technology services company with approximately 9,000 employees, but we are not your typical consultants. At ICF, business analysts and policy specialists work together with digital strategists, data scientists and creatives. We combine unmatched industry expertise with cutting-edge engagement capabilities to help organizations solve their most complex challenges. Since 1969, public and private sector clients have worked with ICF to navigate change and shape the future. Learn more at icf.com.

Caution Concerning Forward-looking Statements
Statements that are not historical facts and involve known and unknown risks and uncertainties are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such statements may concern our current expectations about our future results, plans, operations and prospects and involve certain risks, including those related to the government contracting industry generally; our particular business, including our dependence on contracts with U.S. federal government agencies; our ability to acquire and successfully integrate businesses; and the effects of the novel coronavirus disease (COVID-19) and related federal, state and local government actions and reactions on the health of our staff and that of our clients, the continuity of our and our clients' operations, our results of operations and our outlook. These and other factors that could cause our actual results to differ from those indicated in forward-looking statements that are included in the "Risk Factors" section of our securities filings with the Securities and Exchange Commission. The forward-looking statements included herein are only made as of the date hereof, and we specifically disclaim any obligation to update these statements in the future.

Contact: Lauren Dyke, lauren.dyke@ICF.com, +1.571.373.5577

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SOURCE ICF

FAQ

What is the new contract amount awarded to ICF by PRDOH?

ICF was awarded a $51 million contract by the Puerto Rico Department of Housing.

What is the purpose of ICF's new contract in Puerto Rico?

The contract supports disaster recovery and mitigation programs for homes damaged by hurricanes Irma and Maria.

How long is the duration of ICF's contract with PRDOH?

The contract is for three years, with an option to extend for an additional 24 months.

What programs will ICF expand under the new contract?

ICF will expand its implementation support for the Community Development Block Grant for Disaster Recovery and Mitigation programs.

When was the contract awarded to ICF?

The contract was awarded on January 30, 2023.