VIRGINIA BEACH, Va. (WAVY) — The Virginia Aquarium & Marine Science Center Foundation said they think a modernized main building can now be completed for $50 million to $75 million, far less than the original requested amount.

Foundation chairman Daniel Peterson wrote in a recent letter to City Council that the non-profit “revised the size and scope” of the expansion project following City Council concerns about the reality of funding the initial $200 million to $300 million request.

New seal, shark, and sea turtle exhibits would be constructed under the plan, according to Peterson. Plans for a parking garage and and the renovation other existing exhibits have been scrapped.

However the majority of Peterson’s letter focused on the foundation’s requests of the city as it continues to entertain the possibility of the aquarium being operated in a new way.

Two private operators are set to be interviewed in the coming weeks.

Since the aquarium first opened off General Booth Boulevard in 1986, the city has been responsible for all the buildings and employees of the aquarium while the foundation, a non-profit 501(c)3, owns the animals and the exhibits.

Both the city and foundation consider their long partnership successful, with the aquarium touted as the third most-visited attraction in Virginia, with nearly 593,000 visitors from July 2022 through June 2023.

However, several City Council members began wondering if a new model should be considered following the aquarium’s multi-million dollar long term funding request for a renovation. Mayor Bobby Dyer said while they approve of the long-term vision, ever-inflating costs for flood prevention projects leave them in a tough spot.

While Tuesday afternoon it was revealed State Sen. Bill DeSteph (R-Virginia Beach) will request money in the upcoming state budget for the work, the city is moving forward, looking to see if there is interest in the private sector taking over the operations and doing the work.

Two groups responded to what is known as an RFI, or request for information on the subject. While the city declined to make their names public, citing the procurement law, the City Council said meetings with the groups have been scheduled.

“We are evaluating their experience to get a sense of is there something you guys want to explore putting out an RFP in the future,” said Virginia Beach City Manager Patrick Duhaney.

Councilwoman Barbara Henley said she would like to see the City Council members meetings with the two operators to be public.

“I hope our citizens will have a lot of input with whatever we are talking about with this,” Henley said.

If the city does ultimately go with a new ownership model, the foundation wants to ensure that the educational accessibility and conservation elements of the attraction are maintained, such as the free or reduced tickets for Title I school children, internship program and maintenance of the Stranding Response Program.

“We consider these expectations fundamentals of the Aquarium and are core principles since inception,” Peterson said. “Over the years, these attributes have become underlying expectations of our taxpayers, tourists and guests. Our hope is these elements will continue through the entire lease period of any private entity operating the Aquarium.”