The same company the city hired to to come up with the framework for its new advertising, sponsorship and naming program has earned the job of seeking out corporations, families or individuals willing to pay for the right to add their name to three major city projects.
Staff is recommending Interkom Inc. for the job at a fixed fee of $145,000 (plus HST), including “administration” services.
Pending council approval, the terms and conditions of the agreement would also pay Interkom a maximum 10 per cent commission above and beyond the fixed fee.
Last fall, the city called on Interkom to come up with the framework for naming and sponsorship knowing the southeast Cambridge recreation complex, Fountain Street soccer fields and expansion of the Preston Auditorium are all expected to be built within the next four years.
Interkom estimated then that all three projects could generate upwards of $10 million for the city from naming rights alone.
Older facilities with naming and sponsorship potential could bring in between $500,000-$750,000, the report states.
All naming rights and multi-year sponsorships will require council approval.
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