1. Top tier players will come form all over the world and demand their top tier money and eventually the city or what ever will sell the building and it will turn into a strip club or whatever because those players will elbow the "local cats" out of the way.
Then drain the money dry and move on to the next locale like locusts.
Am I saying they don't deserve that kind of money? Of course not. Many are the standard bearers of the music.
I've seen clubs come and go. They start with the local players that are really good and as soon as the club builds up the owner gets delusions of grandeur and books so and so and pays them $10,000 or whatever and soon the location becomes a Ross dress for less.
I guarantee the cats who need that new center the most will be lucky to ever play there.
2. When government gets involved in art the artistic freedom can easily be compromised. Not by telling the artist what to play but by selecting who gets to play. Again the name guys ( no offense John ) are going to get the lion's share and the rest will be lucky to get the crumbs.