City documents state the resolution comes as Round Rock Amp operates productively at a reduced scale. The original economic development agreement approved in April 2018 would have had the facility—a restaurant, bar, music venue and amphitheater—completed by Dec. 31, 2019. That agreement was extended in December 2019 to reflect a completion date of Dec. 31, 2021. However, amid the COVID-19 pandemic and the economic changes it caused, investment requirements and a completion date for the proposed project were not met.
Both parties seek to have the agreement terminated, the documents state, and no economic incentives were ever paid.
As part of the economic development agreement with the city, the city of Round Rock would have waived up to $30,000 in development fees and reimbursed a percentage of property taxes over five years. Totkn, LLC agreed to invest $10 million and employ 40 staff members, relocating the former Nutty Brown Amphitheater, Community Impact previously reported.
As Round Rock Amp, the venue occupies what used to be McNeil Park. Nutty Brown owner Mike Farr purchased the property from the city in 2018, when the relocation process began. It was rezoned by the City Council to a planned unit development to allow the mixed use of Nutty Brown as a music venue, restaurant and bar.
