The fact that city funded live music is in trouble doesn’t seem to be holding Chicago back from being a prime destination for the festival scene.

Gapers Block reports that the The Bamboozle music festival will hit the First Midwest Amphitheater on May 15, 2010.

Having evolved from the Skate and Surf Festival, The Bamboozle is a 2-day festival heavy on Warped Tour-esque bands. What started out as a New Jersey event has recently broadened its horizons to include California, a traveling version, and an off-shoot known as The Hoodwink Festival, which has bands play entire sets as another band (Sum 41 as Metallica for example).

What seems to set The Bamboozle apart from most festivals is its level of fan participation as well as a cast of characters, some real and some fictional, involved in event planning. This year, fans can sign up to be part of The Bamboozle community and be the first to get information on the line-up. There also appears to be clues and codes throughout the site that hint at who’s playing before being announced. Not a bad way to keep fans interested year round. Last year’s event boasted Fall Out Boy and No Doubt as headliners. So all you tweens out there better mark your calendars.