8 Friederichs Avenue; New Orleans, LA
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.