MCKINNEY, Texas — Read this story and more North Texas business news from our content partners at the Dallas Business Journal
Notes Live has been approved for a development agreement for the large amphitheater it plans in McKinney.
McKinney City Council voted 6-1 on April 16 in favor of the agreement, which includes some incentives for what Notes Live called an "over-the-top" entertainment destination when it revealed the vision for Sunset Amphitheater last month.
Such a facility could attract big-name artists to the city about 30 miles north of Dallas, providing more entertainment options in an area that has seen tremendous residential and commercial development in recent years.
The amphitheater could create 677 jobs and attract up to 700,000 people a year, McKinney Economic Development Corp. President Michael Kowski said during a presentation to council ahead of the vote.
Annual sales from the facility — including food and beverage, merchandise and tickets — could amount to nearly $100 million, Kowski said.
The potential economic impact has drawn comparisons to the CJ Cup Byron Nelson golf tournament, a stop on the PGA Tour that's been held in McKinney for the past three years.
Under the development agreement, Colorado-based Notes Live could receive a grant of $26 million to help offset costs related to parking. The developer could also be reimbursed $5 million for offsite road work after nearly a dozen areas were identified for improvements.
According to the document, Notes Lives will be responsible for paying all permit and inspection fees. The city has agreed to pay impact fees related to roadways, water and wastewater, valued at about $3 million.
Additionally, the venue plans to charge a $1 fee with every ticket, 10 cents of which will go to the city.
"We want to develop a project in a way that positions Sunset as a good neighbor," said Robert Mudd, president and CEO of Notes Live.
In addition to hosting musical performances during the typical concert season of April through October, the amphitheater could host graduations for high schools and colleges in the area.
At this week's meeting, some residents and city leaders voiced concerns about sound from the amphitheater impacting surrounding neighborhoods. Mudd said he has taken this into consideration and committed to building a "solid surface" wall on the amphitheater's west side after consulting with architects about how to better mitigate sound.
And in response to some traffic and safety concerns raised, Mudd said there will be six exits that can enable travel in different directions into and out of the amphitheater.
"That is a very effective means for both the safety perspective and from a traffic perspective,” he said.
Justin Beller was the only council member to vote against the agreement.
Other headlines:
