Now that the city has approved a new naming rights policy regarding public facilities, the Vancouver Board of Parks and Recreation is looking at changes, too.
The upcoming parks board agenda includes a new policy on sponsored naming rights, which dictates how corporate names as part of public facilities works (like Calgary's Scotiabank Saddledome or Seattle's Climate Pledge Arena). It follows the city's policy which was approved in the fall.
In a report to the board, parks staff explained the new policy will mean "greater revenue potential" while also aligning with the City of Vancouver's policy changes.
"The proposed Sponsorship and Sponsorship Naming Rights Policy is intended to maximize opportunities to generate incremental non-tax revenue to address the Park Board’s growing infrastructure deficit and other Park Board priorities," reads the report.
Greater revenue generation for the parks board is possible as the policy expands the scope of programs and assets that will be possible for corporate sponsorship, though parks are not a part of it.
"Park Board staff have carefully considered the various aspects of these policy changes and are confident that these revisions will better enable staff to achieve the Board’s revenue generation objectives," reads the report.
Included in the policy are real property, services, publications, vehicles, and digital platforms. At the same time, some organizations are barred from sponsorship, like religious or political groups.
The new policy will also mean less of an administrative burden, notes the report.
The parks board will discuss the policy at the Monday, Jan. 20, meeting.
