The Irvine City Council will hold a special meeting on Tuesday, Feb. 21 to discuss the city’s future as it pertains to the proposed 14,000 seat Live Nation amphitheater slated for the Great Park.
The item, originally set to be discussed during the Feb. 14 City Council meeting, was moved to a later date at the request of Council Member Mike Carroll.
The focus of Tuesday night’s special meeting discussion will revolve around the proposed amphitheater’s seating capacity.
Originally established at 14,000 seats, a staff report indicated that Live Nation requested changes to the project’s Design, Construction and Operation Agreement, which increased the estimated cost of the project by more than $20 million.
Specifically, the staff report mentions that Live Nation has requested Irvine take responsibility for the cost of construction drawings, which are listed at an estimated cost of at least $2 million.
Additionally, Live Nation also called for the removal of a Ticket Maintenance Surcharge, that would split a $5.00 ticket sale surcharge with the city at a 10% increase, every three years.
Ultimately, the Council will decide to move forward with a 14,000 seat venue or downsize to a 6,000 to 8,000 seat facility.
A larger 14,000 seat venue is set to cost Irvine approximately $150 million, which would generate between $3.5 – $4.5 million annually.
Alternatively, a smaller venue at 8,000 seats is estimated to cost between $80 – $90 million.
For size comparison, Crypto.com Arena in Los Angeles — formerly called the Staples Center — seats a total of 20,000. Alternatively, the Greek Theater in Los Angeles seats 5,900. The iconic outdoor theater, The Hollywood Bowl holds a total of 17,500. The Irvine Barclay Theatre has a total of 750 seats.
The special City Council meeting will begin at 6:30 p.m.
This is a developing story.
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