Saving Money for the Recovery School District Policy Brief 0910-02

18 August 10

Prepared by:

  • Megan Cindrich
  • Molly Katz
  • Josh Mitchell

This report was written by undergraduate students at Loyola University New Orleans under the direction of Professor Peter F. Burns

EXECUTIVE SUMMARY

The Recovery School District (RSD) is faced with an immense challenge of rebuilding and restructuring schools placed in its control. Monetarily, the RSD cannot handle this responsibility, but the RSD can explore several of the following paths to increase its resources. In addition, this policy brief explores how other states offer tax credits and benefits that can increase school district resources.

The RSD needs to look into obtaining Federal Historic Rehabilitation Tax Credits to aid rebuilding projects throughout the city. Because of their age, multiple school buildings located in the RSD would qualify for the 20% tax credit if the FHRTC accepted schools into the list of eligible properties. If the 20% tax credit is not an option, then the RSD can apply for a 10% tax credit for reconstruction.

New Market Tax Credits are aimed directly at projects that create jobs and new economic opportunities for residents. The competition for these credits is intense. Following the guidelines of energy reduction set by the federal government, the RSD can easily receive Energy Efficient Commercial Building Deductions and save money within the rebuilding process.

Download the full policy brief recovery-school-district-saving-money

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