Discovery Science Center of Orange County: Orange County
$6 million tax-exempt financing deal with the Discovery Science Center of Orange County, founded in 1993 and operator of the world-class interactive science center known as the Discovery Cube-Orange County, located in Santa Ana.
In July 2016, Discovery acquired, via a merger, ExplorOcean, a California non-profit that has owned and operated a nautical museum facility in Newport Beach. Through this merger, Discovery has since renamed ExplorOcean to Ocean Quest and it now serves as a satellite center for Discovery Cube. All proceeds generated from the facility will be applied to further science learning locally.
This deal through CEDA finances and refinances acquisition, construction, improvement, and other related costs of the Newport Beach facility. This tax-exempt financing provides Discovery Science Center with low-cost financing, allowing the organization to devote the savings to Ocean Quest’s educational programs serving youth 14 years of age and under.