DENVER, CO (CelebrityAccess) — Denver's City Council has signed off on plans to bring a major new music festival to the city by Bonnaroo producer Superfly.
According to Denverite, Council members voted 10-3 in favor of the festival, which will be held at the Overland Golf Course on the second, or third Friday, Saturday and Sunday each September.
The contract stipulates that the festival will accommodate up to 80,000 people, with four stages of music, with artists drawn from local and internationally recognized talent, as well as beer and food.
The contract, quoted by Denverite, also shows that Superfly will pay $200,000 base rent, and $5,000 per day over and under five weeks that the golf course is closed for the event.
Superfly would also be on the hook for between $180,000 to $420,000 per year to build golf infrastructure and $100,000 to $200,000 per year for community improvements, with the money coming from fees on tickets.
The promoter estimates that ticket taxes for the event will generate between $1 and $2 million per year for the city's general fund, with the contract running through 2022, Denverite reported.