Live Nation could pull out of an agreement with Irvine for a 14,000-seat amphitheater in Great Park if the city moves ahead with a proposed scaled-down venue.
And Great Park residents are divided on just how big the concert venue should be.
In September, Irvine’s council approved an agreement with concert promoter Live Nation for the design, construction and operation of a permanent outdoor 14,000-seat amphitheater in Great Park, replacing the temporary FivePoint Amphitheater.
The total cost of the project was estimated at $130 million, with the city contributing $110 million and Live Nation $20 million. Live Nation would also pay the possessory interest tax: a property tax that private entities pay for leasing, renting or using public land.
However, city manager Oliver Chi said, Live Nation’s later counter-proposal was an “extensive reconfiguration of the deal.”
In its counter-proposal, the total cost for the project was increased by $20 million, with Irvine on the hook for the additional cost plus the possessory interest tax, according to city documents.
Given the extensive changes to the council-approved agreement, Chi said, city staff cannot approve the counter agreement, and it will require council approval.
City staffers have offered council members an alternative option: A smaller amphitheater, with a capacity for up to 8,000 and estimated to cost $80 to $90 million, according to city documents.
However, the scaled-back size might not get the greenlight from Live Nation.
“They don’t have any interest in operating anything less,” Chi said.
Christina Karas, a representative for Live Nation, declined to comment for this story ahead of the council meeting.
The community weighs in
Great Park residents are divided on plans for the amphitheater.
Parrisa Yazdani, who serves on the city-appointed Great Park Task Force, said she supports the bigger amphitheater. It would be “premature to end the negotiation,” she said.
“For me, it’s all or…
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