Council is set to meet at 6:30 p.m. on Tuesday at the Wilmington Convention Center.
City to vote on Live Nation contract for Greenfield Lake Amphitheater
WILMINGTON, NC (WWAY) — Next week, Wilmington City Council will vote on a ten-year contract with Live Nation for venue management at the Greenfield Lake Amphitheater.
If approved, Live Nation would handle booking event and scheduling services, venue consulting, facility management, and food and beverage concessions.
According to the agenda, the agreement has two sets of terms due to the coronavirus pandemic. For 2020, the only fees the manager will be subject to pay to the city are a $700 per event fee and $2.00 per ticket sold.
Beginning 2021, the city will receive $40,000 annually in fixed rent for up to 30 events and an additional $1,500 for each event between 31 to 40 from Live Nation and $250,000 for in-kind value of maintenance expenses over the prescribed term of the contract. Additionally, the city will receive $2.00 per-ticket in revenue.
Live Nation will also provide an initial capital investment of $500,000 dollars for equipment, fixtures, and furnishings, with half of the improvements being completed within 18 months of the first 2021 concert event and the remaining balance of the improvements completed by the end of 2026.