San Diego Theatres, Inc. (SDTI) is a not-for-profit public benefit corporation established to manage and operate publicly owned performing arts theatres. SDTI was established in 2003 by the San Diego Convention Center Corporation (SDCCC), as an operating unit of SDCCC. In 2012, SDTI became a free-standing, non-profit public benefit corporation under amended and restated Articles of Incorporation and Bylaws. SDTI markets, operates, and maintains the Civic Theatre and the Balboa Theatre.The Civic Theatre was constructed by the City of San Diego (City) on land owned by the City and includes a 2,967-seat performing arts theatre as well as a central HVAC plant (Central Power). The Civic Theatre is operated by SDTI under terms of a 50-year lease agreement with the City (Note 9).THE BALBOA THEATRE IS 1,339-SEAT PERFORMING ARTS THEATRE OWNED BY THE CITY OF SAN DIEGO, AND WAS RE-OPENED IN JANUARY 2008 FOLLOWING A $26.5 MILLION RESTORATION AND REHABILITATION. SDTI OPERATES THE BALBOA THEATRE UND