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City Considers Raising SeaWorld's Rent

The State | IN BRIEF / SAN DIEGO

September 23, 2003|From Times Wire Reports

The City Council is reviewing the amount of rent SeaWorld pays to the city, with an eye toward raising it because new attractions have made the property more valuable.

"There needs to be a rent increase, absolutely," said Councilwoman Donna Frye, whose district includes SeaWorld.

The theme park paid $7.15 million in the last fiscal year to lease a 189.9-acre portion of Mission Bay Park from the city. SeaWorld must pay a minimum rent of $5,130,612 regardless of its gross sales.

SeaWorld pays the city 2.5% of ticket sales and a 3% surcharge on its gross income.

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