The city of Jacksonville is kicking in $50 million for the new Museum of Science & History planned on the Northbank.
The funding will be disbursed over three years after City Council approved it last week.
In a news release from MOSH, Mayor Donna Deegan said the museum is “an essential leader in our city’s cultural landscape.”
“With a larger location and cutting-edge exhibits, it will play an even greater role in attracting tourism to our Downtown, cultivating curiosity and inspiring innovation among our next generation of leaders,” Deegan said.
The current museum has been at its Southbank site since 1969.
As part of the funding agreement, MOSH will direct at least $85 million in capital investment toward the design and construction of its new 130,000-square-foot home on Lot X across from Intuition Aleworks at East Bay Street and A. Philip Randolph Boulevard.
The new site is just east of the Jacksonville Fire Museum and the USS Orleck naval ship museum.
MOSH CEO Al Dove said the museum is proud to be one of the “signature projects poised to transform the Shipyards area of Downtown.”
“Formalizing this next phase of our partnership with the city of Jacksonville reinforces our shared commitment to seeing the new MOSH proceed with development,” he said.
To date, MOSH has secured more than $40 million in philanthropic, corporate and private support for the project. Fundraising to cover additional needs related to the project will continue through its Genesis capital campaign.