ure ▁between ▁Philip ▁Sz ost ak ▁Associ ates ▁and ▁Gar field ▁Tra ub ▁Development ▁of ▁Dallas , ▁Texas . ▁The ▁architect ▁was ▁Sz ost ak ▁Design ▁Inc . ▁of ▁Chap el ▁Hill , ▁North ▁Carolina . ▁ ▁The ▁the ater ▁holds ▁ 2 , 7 1 2 . ▁The ▁first ▁event ▁on ▁opening ▁night ▁was ▁a ▁concert ▁given ▁by ▁B . ▁B . ▁King . ▁The ▁the ater ▁is ▁owned ▁by ▁the ▁city ▁of ▁Dur ham . ▁After ▁tal ks ▁with ▁Clear Channel ▁fell ▁through , ▁the ▁City ▁negoti ated ▁a ▁the ater ▁operating ▁agreement ▁with ▁Nederland er ▁Organ ization ▁and ▁Professional ▁Fac ilities ▁Management . ▁The ▁operator ▁guarante es ▁a ▁minimum ▁of ▁ 1 0 0 ▁event ▁performances ▁per ▁year ▁on ▁a ▁rolling ▁three - year ▁average ▁and ▁absor bs ▁any ▁losses ▁for ▁the ▁first ▁five ▁years ▁of ▁operation , ▁at ▁which ▁time ▁the ▁operator ▁could ▁return ▁the ▁management ▁to ▁the ▁City ▁or ▁negoti ate ▁the ▁terms ▁of ▁continued ▁third - party ▁management ▁of ▁the ▁the ater ▁with ▁the ▁City . ▁ ▁The ▁city ▁borrow ed ▁$ 3 3 . 7 ▁million ▁for ▁the ▁center ' s ▁construction ▁through ▁certific ates ▁of ▁participation ▁(" CO P s "), ▁instruments ▁commonly ▁used ▁to ▁fin ance ▁municipal ▁facilities . ▁ ▁Deb t ▁service ▁pay ments ▁on ▁C OP s ▁are ▁subject ▁annual ▁appropri ation ▁by ▁the ▁city , ▁and ▁as ▁such ▁are ▁considered ▁an ▁annual ▁operating ▁exp ense ▁rather ▁than ▁a ▁long - term ▁capital ▁oblig ation . ▁ ▁According ly , ▁a ▁vot