This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

U.S. Bank Provides Financing For Discovery Science Center Expansion Into Los Angeles County

Stocks in this article: USB

U.S. Bank will provide $4.7 million of New Markets Tax Credit equity (NMTC) financing to help Discovery Science Center (DSC) open a second facility located in San Fernando Valley’s Hansen Dam Recreation area.

DSC received approval and funding from the City of Los Angeles in early December to take over the vacant building near Hansen Dam, which was originally for the Children’s Museum of Los Angeles. The building has been empty since it was built in 2007. The tentatively named Discovery Science Center – Los Angeles (DSC-LA) will not only bring new life to the vacant building, it will create approximately 50 full-time, 150 part-time and 250 construction jobs during the transformation.

U.S. Bank made its investment through a community investment subsidiary, U.S. Bancorp Community Development Corporation in partnership with Los Angeles Development Fund, a Community Development Entity (CDE) and non-profit established by the City of Los Angeles to administer its NMTC allocation authority award. U.S. Bank also allocated an award of NMTCs in support of the project through its own CDE, USBCDE.

The San Fernando Valley facility will be approximately the same size as DSC’s location in Santa Ana, which receives over 500,000 guests annually and reaches an additional 220,000 students through outreach programs in local schools. The mission of DSC is to provide educational experiences in science, technology, engineering and math through outreach programs to local schools and exhibits at the center, while also providing professional development courses to over 1,000 teachers annually in the region.

“Discovery Science Center has a unique, engaging approach to educating youth in math, science and technology,” said Sean Foley, regional president for U.S. Bank in Southern California. “Supporting education is important to U.S. Bank, so we take great pride in supporting DSC with financing to help it expand its services to L.A. County.”

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,810.06 +91.06 0.51%
S&P 500 2,063.50 +10.75 0.52%
NASDAQ 4,712.97 +11.1030 0.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs