The Vail Valley Foundation will begin phase two of a $19 million renovation at the Gerald R. Ford Amphitheater in late September, following approval Wednesday from the nonprofit’s board executive committee. Vail Music Festival and Vail Dance Festival maintain their positions as world-renowned classical music and dance festivals. Vail Music Festival, graduations, and more. Vail Music Festival. To date, the Vail Valley Foundation has raised approximately $46 million toward the overall $74 million goal and $13 million toward the $19 million Gerald R. Ford Amphitheater renovation, with Bravo!