The Real Deal Miami

Jungle Island could get lease break

April 02, 2009 11:02AM

The floundering tourist attraction is on the Miami City Commission agenda today as local leaders consider a four-year abatement on its $400,000 annual lease. The city manager said deferring the fee will preserve jobs and ward off repayment obligations for up to 80 percent of the $23.9 million the business still owes in a federal loan to the Department of Housing and Urban Development. The city would also be allowed to hold events at the site for the next 10 years if it approves the measure in a vote today.