There are new places to learn and play in-store at the Museum of Discovery in downtown Little Rock. The museum recently announced that it is undertaking a reimagination campaign, the third major investment in the museum.
The $10.7 million investment includes phase 3, which will be funded by the New Markets Tax Credit Program and result in upgraded spaces that provide new, creative ways for children to play, explore and learn. Two new galleries — Small Fry Fish Camp and Curiosity Spot — will open later this year.
The tax credits came from the Heartland Renaissance Fund, a subsidiary of Arkansas Capital Corp. The Heartland Renaissance Fund is a certified community development entity that allocated $9.8 million in New Markets Tax Credits to complete the project. First Horizon Bank, the tax credit investor, provided $3.1 million in tax-credit equity.
Curiosity Spot Rendering
“ACC and the Museum of Discovery are united in our unwavering passion for bettering the quality of life for many Arkansas residents through leading-edge educational experiences,” Sam Walls, CEO of Arkansas Capital Corp., said. “This reimagining project is just one example of our dedication to this mission.”
The U.S. Department of the Treasury Community Development Financial Institutions Fund issues NMTCs to stimulate economic growth in distressed communities by providing tax credits to investors who offer private capital.
The Heartland Renaissance Fund is the sole community development entity to restore the nearly century-old museum after a 2021 winter storm caused severe flood damage.
Fish Camp Rendering
When phase 3 is complete, the museum will have multiple new spaces designed to stimulate young, curious minds. Phase 2 projects included the installation of two new galleries: the Science Lab and Dynamic Earth.
The Science Lab opened in November and features interactive force, light and electricity exhibits. Dynamic Earth, which opened in February, highlights changes that affect the planet and those who live on it.
For more information about the Museum of Discovery, click here.
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