Live Nation is negotiating with the city of Fort Lauderdale, FL to create a new, two-day live music festival on the beach that could attract 200,000 people.

Looking for a three-year commitment, the Florida Beach Festival would feature top-tier acts and offer relatively low-priced tickets during a holiday weekend, possibly Memorial Day weekend, beginning next year, according to the Florida Sun Sentinel. Live Nation’s Mike Luba told the paper a weekend pass could be “40 or 50 bucks.”

City commissioners were receptive to the idea, but said they must first get community feedback before moving forward. A decision could be made by September.

City officials want to make sure that the proposed festival will not dip into taxpayer’s pockets like the free Air & Sea Show did. It closed last year after 13 years.

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Luba told the paper that the city would be reimbursed by Live Nation for all costs, including police. They would also hire their own security.

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