Christian Brothers School

New Markets Tax Credit Coalition

New Orleans,
LA
(2009)

Christian Brothers School

Community, Disaster Recovery, Katrina, Schools, Youth and Families

The Christian Brothers School new multi-purpose facility constitutes the first new building constructed in the New Orleans institution’s fifty-year history.

Investment

NMTC Amount: $5,000,000
Total Project Cost: $6,000,000

IMPACT

5 FTE jobs

CDEs

Advantage Capital

Investor

Unknown

Project Description

Funded by a $5 million New Markets Tax Credit qualified equity investment paired with another $1 million of unleveraged sources, the Christian Brothers School new multi-purpose facility constitutes the first new building constructed in the New Orleans institution’s fifty-year history. At last, the school’s student body will have access to modern athletic facilities, a dedicated venue for the arts and a science lab. Qualified for NMTCs under special Gulf Opportunity Zone (“GO Zone”) targeted population rules instituted to assist the Gulf Coast’s recovery from Hurricane Katrina, CBS’ multi-purpose facility is another impressive illustration of the region’s comeback. Like many other area institutions, Christian Brothers School continues to grapple with general post-Katrina financial constraints; without the NMTC subsidy, the school’s new building could not have been afforded.

MAP

Address: 8 Friederichs Avenue, New Orleans, LA 70124

Census Tract: 22071980000

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