Tuesday, November 17, 2009 at 3:07 p.m.
Read more: State, Economy, Education, Community
JEFFERSON CITY, Mo. (AP) -- Missouri has approved $3 million in tax credits to kick-start a fundraising drive for renovations at the historic St. Louis Public Library.
The aid was approved Tuesday by the Missouri Development Finance Board. It's expected to raise about $6 million from private donors by providing them a 50 percent state tax credit.
Library officials plan to begin a $76 million renovation next year and complete it by 2012. Low-interest bonds and federal tax credits will cover much of the costs.
Library Executive Director Waller McGuire says the project will refurbish the nearly century- old building, add computer capabilities and improve protections for rare books and documents. McGuire says the library currently has no fire protection except alarms.