The Great Park amphitheater is before the Irvine City Council again.
On Tuesday, July 25, Irvine leaders will review an updated design, construction and operation agreement with events promoter and venue operator Live Nation during a special meeting and regularly scheduled council meeting.
In the new proposed agreement Live Nation has shared with Irvine, the city would be responsible for the design of the concert venue and oversee construction while Live Nation would purchase and install entertainment equipment and operate and maintain the facility.
Under the previous arrangement, Live Nation was expected to hire design consultants. Now, Irvine would have 90 days to get a design to Live Nation.
Irvine is also on the hook to construct parking with at least 4,500 spots, expected to cost the city around $40 million which will come from the Great Park Framework Plan fund, said City Manager Oliver Chi.
The proposed agreement says the city cannot charge a parking fee for the spaces during an event; Irvine would only be able to charge a parking fee for a city event. Live Nation, on the other hand, could charge a parking fee for both general use spaces and VIP parking during an event.
The total cost of the project could go up to $140 million — previously the amount was set at $130 million — with Irvine still on the hook for $110 million. Live Nation is expected to contribute up to $30 million toward construction and pay $3.5 million a year to the city for the use of the venue, increasing by 3% each year, according to the proposed agreement.
A representative for Live Nation did not immediately respond to a request for comment Monday.
Additional revenue streams have also been identified: Live Nation will charge $4 per ticket — a city facility maintenance fee — with all revenue generated going toward the city. However, this money, the new agreement stipulates, “has to be spent directly on items identified by Live Nation as city maintenance…
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