CITY OF GRAND JUNCTION, COLORADO

RESOLUTION NO. 68-13

A RESOLUTION AUTHORIZING THE OFFERING FOR SALE OF THE NAMING AND SPONSORSHIP RIGHTS FOR THE AVALON THEATRE

 

RECITALS.

 

At the June 19, 2013 City Council meeting, the City Council directed that the City move forward with the $7.6 million Option B Avalon renovation with additional direction to pursue other funding for the project. The City staff and the Avalon Theatre Foundation (ATF) have been exploring, pursuing and securing other funding sources as directed by the City Council. Those sources of funding have included but are not limited to grants, private and public philanthropy and the sale of naming and sponsorship rights of and for the Theatre. Subsequent to that direction the ATF, the DDA Executive Director and City staff has researched the parameters of selling naming rights.

On October 28, 2013 the City Council reviewed the research and recommendations and asked that the question be forwarded to the Council for formal consideration. Consistent with that direction this resolution focuses the fund raising effort on the possible sale of naming and sponsorship by authorizing the same on the conditions stated herein.

The ATF was organized for the purpose of supporting the development of the Avalon through fund raising and the solicitation of financial commitments for the project. As part of the on-going campaign for the project and as an element of that work the ATF is by and with this resolution specifically authorized to offer the sale of naming rights.

Furthermore, because the funding of the project is a cooperative venture by and between the City, the DDA and the ATF, the DDA is authorized to when and if appropriate, provide notice to possible purchasers that the naming rights are available and as proper notify the ATF and/or the City of any expressions of interest in the purchase of rights.

Additionally, the City does authorize and direct the City Manager or his designee to publically offer the sale of naming rights including but not limited to the issuance of a Request for Proposal(s) RFP.

The foregoing authorization and direction is specifically conditioned on the final decision on the terms of sale, if any, being determined by the City Council.

NOW, THEREFORE, BE IT RESOLVED THAT the City Council of the City of Grand Junction does hereby authorize the offering for sale of the naming and sponsorship rights for the Avalon Theatre in accordance with and pursuant to the recitals stated above and the general terms stated below:

1)  Cash purchasers/contributors will get first right and consideration;

2)  Current donors will receive recognition on the donor wall in the Main lobby; those persons and/or entities may secure naming rights for additional contributions;

 

3)  “Avalon” or “the Avalon” shall be included in the name/naming/rights/sponsorship in perpetuity;

 

4)  All offers to buy/sell or other proposals to sell naming or sponsorship rights received by the ATF, City or DDA will require formal approval by the City Council and a legally binding contract specific to the transaction will be developed;

 

5)  The presumed value of naming rights will be derived in accordance with the following table. The term and element(s) of the building or project will be negotiated. Some elements have more than one naming opportunity and where available those shall be separately offered.

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Major building components for which naming/sponsorship rights may be purchased:

 

Avalon Performing Arts Complex  The City shall issue a Request for Proposal

Historical Theatre Building  The City shall issue a Request for Proposal

The Multi-Purpose Room  $600,000 to $1 Million

The Rooftop Terrace  $500,000 to $750,000

Lobby – Main Floor  $200,000 to $500,000

Lobby – Mezzanine  $100,000 to $200,000

Orchestra – Main Floor  $100,000 to $250,000

Mezzanine  $100,000 to $250,000

Balcony  $100,000 to $250,000

Elevator  $50,000 to $75,000

Hearing Loop  $30,000 to $50,000

Concessions  $50,000 to $100,000

 

Dated this 6th day of November 2013.

 

                                       

President of the Council

ATTEST:

 

               

City Clerk