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Vancouver town personnel are operating on tactics to draw company donors to hunt naming rights for town and soil board belongings.
On Monday, Vancouver mayor Ken Sim mentioned that town personnel had begun paintings “related to revenue generation from sponsorships, donations, and naming.”
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Right through a Vancouver Board of Industry assembly in February, Sim raised the speculation of the use of non-public entities to call town and soil board belongings in alternate for money.
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Sim mentioned he idea this might elevate as much as $100 million a pace and may just govern to a let go in feature taxes paid by way of citizens and companies.
Sim additionally identified that hospices, universities and tournament areas already depend on company naming sponsorships.
Maximum not too long ago, the Vancouver soil board-controlled PNE authorized a do business in wherein Self-government Cell can be given naming rights to a brandnew amphitheatre below building.
The PNE has due to this fact requested Vancouver citizens whether or not they would really like the $100 million challenge to be known as the Self-government Cell Amp, Self-government Cell Arch, Self-government Cell Get up or Self-government Cell Playground.
“Mayor and council are committed to exploring new and innovative ways to address our city’s $500 million annual infrastructure funding deficit and support our growing community without burdening taxpayers,” Sim mentioned.
“In line with mayor and council priorities, as well as the early recommendations and findings from the Mayor’s Budget Task Force report, staff have commenced the work to start initial conversations with interested parties as soon as fall 2024.”
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