Decatur council approves up to $5 million investment for Rock the South with benchmarks and indemnity

Decatur City Council voted to approve an investment agreement with Peachtree Entertainment LLC, operator of the Rock the South festival, committing the city to a prorated contribution of up to $5 million over five years conditioned on attendance and tax‑payment benchmarks, insurance and indemnity protections.

Council members said the contract now includes clearer benchmarks and repayment mechanisms that were not in the earlier letter of intent. Under the agreement the promoter commits to an average of 15,000 tickets per day for a three‑day event; if that level is not met the contract provides for pro‑rata reimbursement to the city. The presenter said the first city payment would be scheduled for Nov. 5 if this year—s conditions are met, with subsequent payments scheduled Oct. 1…