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Giant Fish Tank Sinking In Red Ink

DENVER-Colorado's Ocean Journey, which can't pay off the $63.1 million in debt, is dealt another blow when the Scientific and Cultural Facilities District rejects a request for $750,000 a year.

By John Rebchook | Updated on August 24, 2001

DENVER-Colorado’s Ocean Journey, a two-year-old non-profit aquarium in Denver’s Central Platte Valley, is in danger of sinking under unmanageable debt. The attraction, which has drawn 2.3 million visitors, can’t pay off the $63.1 million in debt to bondholders and the city of Denver.

COJ was hoping to receive $750,000 a year in funding from the Scientific and Cultural Facilities District, even though it had initially said it would not seek SCFD financing for several years. The SCFD, with one dissenting vote, rejected COJ’s request.

To get out of a $6.1-million Housing and Urban Development loan from the city, COJ floated the idea of giving the city some land in a swap for the debt.

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