FAYETTEVILLE — The Walton Arts Center Board of Directors approved purchasing the Arkansas Music Pavilion on Tuesday.
Board member Curt Rom said buying the 6-year-old pavilion is contingent on a long-term lease agreement with the Northwest Arkansas Mall and a management agreement with Brian Crowne, co-owner-operator of the pavilion.
“Funding would come from in-house,” Rom said. “Based on our programming projections, we’d be able to break even by the third year.”
Rom said up to $480,000 in restricted money, designated in 2008, will go toward the purchase.
The purchase price is still under negotiation.
“I’ve worked with the Walton Arts Center and partnered with them on a few shows in the past and I think we’ll have a good working relationship,” Crowne said. “I think this partnership has the potential to help me take the venue to the next level.”
Crowne said the 3,500-seat tented outdoor arena, located in the Northwest Arkansas Mall parking lot, would continue to operate in much the same way area residents are accustom to.
“The core concerts and entertainment people are used to won’t change,” he said. “We want to look at opportunities to expand the programming and add a more diverse lineup. There’s also the potential to make the amenities nicer and increase the caliber of the people we attract.”
Tim Vogt, chief financial officer for the Walton Arts Center, said purchasing the AMP would attract a broader cross-section of customers and generate more income.
“It would expand our physical presence in Fayetteville and Arkansas,” he said. “It would also test our operation for a larger venue and different markets.”
In other business, council members named Greg Lee, retired international Tyson Foods president, as its newest member.
Lee will replace Vina Hyde, who’s served on the board since 2002.