WILMINGTON, NC (WWAY) — Wilmington City Council is expected to award a contract to Live Nation to run events at the proposed North Waterfront Park.
Under the 10-year contract, Live Nation will pay $200,000 rent each year and provide $700,000 for maintenance expenses. The city will also receive $2 per ticket sold and Live Nation will provide an initial investment of $2 million for equipment, fixtures and furnishings of the park’s performance venue.
City Council will discuss the contract at Tuesday’s meeting.
The city says one of the top priorities identified by residents in the park master plan is a large performance venue.
The city has already contracted with a nationally known landscape architecture firm to design the 6.6 acre park and a construction management firm has also been selected.
The parks bond approved by voters in 2016 will fund the construction and development of the park.
Design is underway. The park is expected to open in the fall of 2019.