Tax credits leverage $3.3 million for Discovery Center

Discovery Center, 438 St. Louis St., was awarded Missouri Development Finance Board tax credits to leverage $3,332,000 in contributions for the expansion project and new educational exhibits. Discovery Center officials are seeking donations.

“These tax credits are critical to the funding to finish this project,” center CEO Emily Fox said.

Anyone who pays state income tax is eligible for the tax credits, which can equal up to 50 percent of a contribution. As mandated by the program, the minimum contribution level is $5,000 – only accepted in cash or stock.

The credits are transferable, meaning the donor may keep the tax credits or sell them for up to 100 percent of the value of the credits. The tax credits are available through Dec. 31. Pledges in writing for 2006 credits are accepted but must be paid within the first quarter of the year.

The interactive science center’s now $4 million project, certified by the Leadership in Energy and Environmental Design of the U.S. Green Building Council, is 45 percent complete, Fox said. Completion has been pushed back from the end of the year to mid-February.