BANGOR, Maine (NEWS CENTER) — The city of Bangor has reached a 10-year agreement with Waterfront Concerts.

According to Bangor City Councilor Joe Baldacci's Facebook page, he expects the 10-year deal with WFC will mean hundreds of millions in commerce.

It's expected to be voted on at Monday night's council meeting.

Baldacci also said, "The details of the contract which require a 10 show per year minimum also includes an immediate 10% increase in payments per ticket to the City starting in 2017 and increasing thereafter by 1.5% per year."

Bangor City Councilor Ben Sprague also posted on Facebook about the agreement. He said, "Highlights of the new agreement include cooperative efforts to improve the Bangor Waterfront including bathrooms, an increase in the city's share of each ticket sold ($1.375 per ticket with a 1.5% annual increase for the life of the contract), and continued sound monitoring. I will be voting yes.