The Hurricane Damaged Historic Bastrop High project in Bastrop, Louisiana will completely renovate the old Bastrop High School building as part of a HOPE VI Main Street Grant. The project will adaptively-reuse the historic high school into 68 independent living apartments for the elderly. The unusual project (very few HOPE VI projects utilize historic tax credits) will utilize:
- 6.4 million in Tax Credit Exchange Program (TCEP) funding and $871,000 in Tax Credit Assistance Program (TCAP) funding — both of these programs were created by the American Recovery and Reinvestment Act;
- $1 million in HOME funds through the Department of Housing and Urban Development (HUD);
- $4.1 million in state and federal historic tax credits; and
- $500,000 from HUD’s HOPE VI Main Street program.