City Council Meeting February 4, 2014. Naming Rights Proposal Consideration of adopting a Resolution approving the naming rights agreement negotiated.

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Presentation transcript:

City Council Meeting February 4, 2014

Naming Rights Proposal Consideration of adopting a Resolution approving the naming rights agreement negotiated by the San Angelo Stock Show & Rodeo Association, Inc. with Auto Wrangler, Inc. for the San Angelo Fairgrounds Livestock Building #2 with attached Livestock Sale Pavilion, located at 4608 Grape Creek Road, naming said building the “Auto Wrangler Livestock Barn and Sale Pavilion” ; authorizing the City Manager to execute said agreement on behalf of the city; and providing for an effective date.

Naming Rights Proposal The San Angelo Stock Show & Rodeo Association (SASSRA) has solicited and received a naming rights proposal from Auto Wrangler for the newly constructed Livestock Building #2. The proposal is for $8,000 per year for 3 years. The proposed name is “Auto Wrangler Livestock Barn and Sale Pavilion.” SASSRA seeks City Council’s approval of a resolution authorizing the naming rights proposal from Auto Wrangler. On June 1, 2010, the Council adopted an updated naming rights policy. The policy states that, “All naming rights proposals and contracts shall be subject to review and approval by the City Council.”

Naming Rights Proposal SASSRA leases the fairgrounds (land and improvements) from the City. The policy also states that SASSRA is the only lessee of City property that may solicit and negotiate naming rights agreements for the properties it manages on the San Angelo Fairgrounds. The policy also states that, “SASSRA is entitled to a 25% royalty fee from the revenue generated by such agreements. The remaining 75% shall be used by the SASSRA on the upkeep and maintenance of its leased properties on the Fairgrounds and improvements located thereon for the term of its lease agreement.” The City incurs no expense with this proposal.