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Committee approves chain‑of‑title transfer for Bedrock amphitheater parcel ahead of TIF vote
Summary
Council committee approved an emergency ordinance allowing the city to acquire and reconvey 401 Stones Levy so Bedrock affiliates can be in the chain of title prior to tax‑increment financing for a proposed riverfront amphitheater; staff said Live Nation would operate the venue and projected modest payroll and long‑term TIF value.
The finance committee approved Ordinance 662‑2026 to authorize the mayor and purchasing authority to acquire and reconvey property at 401 Stones Levy from Starline Stone LLC, an affiliate of Bedrock Development, to place the parcel in the chain of title ahead of proposed tax‑increment financing for a new riverfront amphitheater.
City staff described the project as a 6,200‑seat riverfront amphitheater that Bedrock and Rock Entertainment Group are pursuing as part of a larger riverfront redevelopment program. "Live Nation will operate this," staff said, and the presentation estimated roughly 60 full‑time equivalent jobs tied to a $3.1 million annual payroll and a net positive tax and school‑district benefit over the TIF term.
Why it matters: The change to the chain of title is procedural but necessary before the city can adopt TIF legislation that would fund public‑interest elements of the redevelopment. Officials emphasized that community‑benefit commitments made in earlier agreements with Bedrock would continue to apply.
Outcome: Committee approved the emergency ordinance. Council members asked about prior DPS hearings and whether the TIF represented new assistance or an expansion of an existing TIF; staff confirmed the action simply adds the parcel to an existing riverfront TIF footprint.
Next steps: The TIF financing legislation will be presented separately; any final TIF adoption will be subject to full council review and the standard statutory approvals.
