September 1, 2014
RENO, Nev. (AP) - The Conrad N. Hilton Foundation has given the Nevada Discovery Museum in Reno a clean financial slate.
The museum on Tuesday announced the foundation has forgiven a $1 million loan that was due for repayment in 2015. It was the museum's only outstanding debt.
The foundation recently closed its finance administration office in Reno. A spokesman says the board of directors decided to forgive the museum's loan to commemorate the foundation's long and positive relationship with the city of Reno.
Fundraising for the Nevada Discovery Museum began in 2005.
Museum officials say nearly $21 million was raised to purchase and renovate the former Reno City Hall building, as well as to design and construct the museum's galleries and exhibits.
It opened in September 2011.