Jul 2026 · 1705 Manhattan Blvd · Census Tract 278.03

Tax Credit · What It Looks Like

Parcel-specific answer for 1705 Manhattan Blvd, Harvey, LA 70058. Concept 2D · ~$3M all-in · 48 keys · hotel + restaurant + events + retail.

DEFINITE · LOCATION QUALIFIES

~$300k – $450k net

New Markets Tax Credit (NMTC) — your address is in a federal Low-Income Community (~27% poverty). On a ~$3M Mirage build, that typically translates to $300,000–$450,000 less you need to raise or borrow — if you close an NMTC deal through a certified Community Development Entity (CDE).

How the credit works

NMTC is a federal tax credit paid to an investor who puts money into your project. You receive the benefit as cheaper debt or a forgiven loan — not a check from Louisiana.

Investor puts equity in CDE → CDE lends to Mirage (~$2.5M) → Investor gets 39% tax credit → You repay less than you borrow

39%Federal credit rate on investment

7 yrsCredit paid to investor over time

~17%Typical net subsidy to your project

Dollar example · ~$3M Concept 2D

Based on locked $3M cost model. Assumes ~$2.5M of the project gets NMTC financing (typical — not every dollar qualifies).

Line	Amount
NMTC-eligible investment	$2,500,000
Federal tax credit to investor (39%)	$975,000 over 7 years
Gross subsidy to project (~17%)	~$375,000 – $500,000
Legal / CDE / structuring fees	~$75,000 – $150,000
Net cash benefit to Mirage	~$300,000 – $450,000

What you actually see in the capital stack

Below-market loan — borrow $2.5M, repay ~$2.0M–$2.1M
Forgivable second lien — fills part of your equity gap
Lower total debt service — less cash out monthly

One-line summary: On ~$3M at 1705 Manhattan, NMTC realistically looks like ~$300k–$450k net subsidy — mostly as forgiven or below-market financing. You must win allocation from a CDE and pay transaction costs to capture it.

What you do not qualify for

Opportunity Zone — tract 278.03 is not in Jefferson’s designated zones
Enterprise Zone rebates/credits — tract is in the zone geographically, but program closed to new projects Jun 30, 2025
Restoration Tax Abatement — ground-up PEMB on vacant flag lot; RTA requires rehab of an existing building
Quality Jobs / High Impact Jobs — QJ sunset · HIP excludes hotels & restaurants (NAICS 72)
ITEP · FastSites · LA hotel credit — manufacturing / industrial programs only

Site facts (geocoded Jul 2026)

Address	1705 Manhattan Blvd, Harvey, LA 70058
Census tract	278.03 · GEOID 22051027803
NMTC Low-Income Community	YES ~27% poverty
Manhattan Corridor EDD	YES · no automatic money · TIF not activated
Enterprise Zone geography	YES BG 1–3 · program closed
Opportunity Zone	NO

Next step to capture NMTC

Contact a Louisiana-based CDE allocatee — confirm tract 278.03 and mixed-use hotel feasibility
Engage NMTC counsel before finalizing capital stack
Budget ~$100k+ in transaction fees against the ~$300k–$450k net benefit

$3M cost model Hotel Concept Investor paths Full parcel memo Project hub

Not legal or tax advice. NMTC location eligibility verified via U.S. Census geocoder and CDFI Low-Income Community criteria (poverty ≥ 20%). Closing an NMTC transaction requires CDE allocation, legal structuring, and investor participation — verify all amounts with qualified professionals.