VIRGINIA BEACH, Va. (WAVY) — Virginia Beach City Council members have officially approved the city sponsorship of the Something In the Water music festival.
The latest comes after November’s public hearing where input from residents was largely positive. The vote allows festival organizers to keep more revenue than the inaugural festival while allowing free use of the city property and staff.
Two million dollars from the Tourism Investment Program fund will be appropriated to sponsor the return of the festival.
Under the sponsorship agreement, the City of Virginia Beach would allow the festival organizers to keep all admissions, meals and the local portion of state sales taxes for all transactions that occurs on festival grounds.
That equates to 10% of ticket sales, 5.5% of food and beverage and 1% for sales. Festival grounds includes 4th Street to 15th Street and online ticket sales, according to the city.
Artist and Virginia Beach native Pharrell Williams announced the return of the festival in early November during his Mighty Dream Forum event in Norfolk. It will be from April 28-30. Local live event producer IMGoing will help Live Nation with the event.
Many small businesses are excited the festival is back and said that the first year working with SITW was a success.
The 2019 event spurred an estimated $1.1 million in direct revenue to the city, with $285,000 being profit.