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The owners of Denver\u2019s Underground Music Showcase are reviving the indie music festival in a big way this summer, but with a major new financial partner,<\/strong> and in a new part of town.<\/p>\n Previously held along South Broadway in the Baker neighborhood, the multi-day music fest known as The UMS will take over the River North Art District, July 24-26, said Keanan Stoner, owner of the Denver-based Two Parts marketing and production company. It announced before last year\u2019s event, however, that 2025 would be its final iteration in its longtime, South Broadway location.<\/p>\n The RiNo Business Improvement District will purchase a 50% stake in the event, Stoner said, valued at $250,000. That follows monthslong negotiations that began when the BID approached Two Parts early last fall about acquiring the fest. The BID\u2019s board has also pledged $250,000 annually for UMS title sponsorship for the next three years, which will shore up the fest\u2019s estimated $1.4 million budget \u2014 and which brings the BID\u2019s overall investment to $1 million.<\/p>\n After the purchase, Stoner will transition from CEO of Two Parts to director of The UMS this year \u2014 a contract job, he said.<\/p>\n The festival is valuable not only for its artistic discovery but also for its commercial potential, said Terry Madeksza, executive director of the RiNo BID. She was up front about the organization\u2019s interest in the event as an economic engine that promotes RiNo\u2019s businesses\u00a0and promotes its cultural offerings, but that remains affordable for fans, and reliable in paying bands, artists and venues what they\u2019re worth.<\/p>\n She expects a number of public and private partners, from big promoters to independent businesses, to take part, but has yet to start that process of reaching out to them. BIDs are private-public partnerships that collect money from local businesses in a particular area to fund services, improve public areas, and develop economic opportunities.<\/p>\n \u201cYes, it is about the music and the festival (experience),\u201d Madeksza said. \u201cBut it\u2019s also about the businesses and venues that will participate, or be adjacent to music venues. If we can involve people and engage visitors while also showcasing and celebrating the arts, it can provide more exposure for RiNo.\u201d<\/p>\n Two Parts has owned The UMS for several years, and last year produced its final event with nonprofit partner Youth on Record<\/a> (YOR), which owned a 30% stake. As a music education organization, YOR ultimately said costs were too high to sustain the festival, forcing it to divest and refocus on its core mission, according to executive director Jami Duffy.<\/p>\n