User uShare Login | Register
Login
Register

Along with posting photos, videos, and stories, your uShare account lets you post Classified Ads, recipes on What's For Dinner, and Announcements.


60° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options

RADAR LOCATION

TEMPERATURE LOCATION

Share your Photos, Videos, and Stories on uShare! Click here to get started.

KELOLAND.com | Sioux Falls News & Weather, South Dakota News & Weather, Minnesota and Iowa News

[0] My Saved Articles
Find local businesses
on the KELO Pages!

 

SF Wants To Pay $65,000 To Study Naming Rights

April 6, 2011, 9:58 PM by Ben Dunsmoor

SF Wants To Pay $65,000 To Study Naming Rights
SIOUX FALLS, SD - What's a name worth? That's the question Mayor Mike Huether's office wants to explore. But to find out, the administration says its going to cost $65,000.

The City of Sioux Falls hopes to use naming rights to finance a new events center. But, before a company pays to have its name attached to the side of the building, the mayor's office is asking the city council to approve extra money to study the issue.

Naming rights for the facility has been part of the conversation since the mayor gave his proposal last year.
Now, the city says it will have to put up thousands of dollars to see how much company's are willing to pay to have their name tied to an events center.

"We want to make sure, and Mayor Huether has been very adamant about this, that we're not speculating with a $100 million facility," Sioux Falls Community Development Director Darrin Smith said.

Now that plans for an events center are starting to come together Smith says the city wants to hire a consultant to figure out just how much money naming rights could bring to the bank.

"Very candidly nobody really in the city of Sioux Falls specializes in this kind of thing. It's a very specialized expertise, so we went looking for that and we think we found it," Smith said.

The administration wants to hire The Superlative Group from Cleveland, Ohio to not only study naming rights for the events center, but also for other facilities in town like the arena, the zoo and the Washington Pavilion.
 
The group will talk with local businesses to see how much they are willing to pay to have their name associated with a place, then give an idea of fair-market value.

But, before the group can be hired, the city council has to sign off on the request.

"This is important information for the city to have. So, it's a struggle for us because we want them to have it, but for goodness sakes where do we draw the line," city council chair Greg Jamison said.

A half million dollars has already been approved for hiring an architect and other consulting firms. Jamison says he's uncomfortable with a request for more money. 

"We made a promise to the citizens to spend $500,000 to get this done. The mayor was very confident that he could get it done. Now, we're here at the end and we're not done, and there's still more to come," Jamison said.

Smith says this information is needed. He says naming rights can't just be award to the highest bidder because they don't want to short-change the taxpayers.

"You need to know first and foremost what is a reasonable fair-market value for this facility. So, you're not underselling yourself and going out there and giving the naming rights away for an amount that is nowhere near what you could have received. The taxpayers in Sioux Falls deserve better," Smith said.

The council will consider the $65,000 request at Monday night's council meeting.

They hope to vote on the extra money on April 18th.
Naming Rights Information.pdf

Previous Story

Next Story


Comments







 
Find Local Businesses on KELO Pages!

You may also like

Woman Killed In Sioux Falls Home

4/16/2014 6:01 PM

Sioux Falls police are investigating a murder in the southwest part of the city.

Full Story
SF Murder Victim Stabbed, Suspect Got Pills

4/17/2014 10:12 AM

Sioux Falls Police have released the names of the suspect and victim in the city's second homicide of 2014.

Full Story
Missing Girls Case Update On Tuesday

4/15/2014 7:15 AM

Authorities plan to release an update on the investigation into the 1971 disappearance of two South Dakota girls.

Full Story
Remains Found In Car Are Missing Girls

4/15/2014 1:39 PM

After more than 40 years, the families of two missing teenage girls now know what happened to them.

Full Story
Evidence From Car Led Authorities To Cold Case Conclusion

4/16/2014 11:35 AM

A more than 40-year-old cold case has been closed after South Dakota authorities announced on Tuesday the remains found in an old Studebaker submerged...

Full Story


Events

 
 
KELOLAND TV: 501 S. Phillips Avenue, Sioux Falls, SD 57104
Phone: 605.336.1100 · Breaking News call: 1-800-888-5356
Web Site Design and Custom Programming By: Lawrence & Schiller© 2014 KELO-TV -- KELOLAND.COM -- ALL RIGHTS RESERVED