El Paso City Council approves partnership to develop outdoor amphitheater
EL PASO, Texas (KVIA) -- Today the El Paso City Council solidified the public private partnership with Notes Live, Inc. This is for a 12,500-seat outdoor amphitheater that's meant to be part of the Cohen Entertainment District. The City Council approved a $30.6 million performance-based economic incentive package that is in accordance with the term sheet they approved on April 23, 2024.
They state the package will include: The conveyance of approximately 17-acres of City-owned land for development purposes, tax rebates provided via Tax Increment Reinvestment Zone #11. Additionaly they say it will include an $8 million, 8-year development note from the Texas Economic Development (TED) Fund and shared parking for exclusive use on event days.
“This public-private partnership with Notes Live is a game-changer for our community. It is focused on private investment, and it will have a total impact of more than $5 billion dollars for our community,” said Mayor Oscar Leeser.
Venu has committed an $80 million capital investment on the live entertainment venue and a minimum of 40 scheduled events each year. El Paso City Council projects an estimated annual economic impact of $152 million. They also anticipate return on investment to be above average at 28.8%. They also state the direct annual revenue benefit to other taxing entities is $4.6 million. The construction of the amphitheater is said to likely begin this Fall and be completed by Spring 2026.
