The City of Prince George will provide a portion of their revenue from sponsorship of the Northern Sport Centre to contribute to the gym floor resurfacing project.
Council approved the funding at last night’s (Monday) meeting.
Director of Civic Facilities and Events Andy Beesley said the University did “100 per cent of the leg work” on the proposed deal.
“The intent is to provide a portion of the sponsorship revenue to contribute to the replacement of the ageing gym floor at the Northern Sport Centre,” Beesely said.
“The Master Agreement between the city and UNBC governs how sponsorship agreements are to be addressed, and specifically, the fact that the City and UNBC are entitled to a portion of the total value of sponsorship agreement.”
The City will provide $10,000 to the Northern Sport Centre Capital Reserve Fund, specifically to be used for the purposes of contributing to the gym floor replacement.
Under the current Master Agreement, the City provides an annual operating contribution of no more than $300,000, and UNBC is responsible for an annual operating contribution of $300,000 or greater amount, which may be required to fund a balanced operating budget.
“The intent of the ask is the City would not reduce it’s $300,000 contribution next year, we would be assigning our share of the $10,000 towards the project by approving this agreement,” noted City Manager Walter Babicz.
UNBC will commit $14,000 from their share of the sponsorship deal, and will commit an additional $30,000.
Beesley noted the University had applied for a grant to replace the floor, but was unsuccessful.
“The total cost of the gym floor replacement is approximately $150,000,” he explained.
Beesley added without the grant, there is enough money within the Northern Sport Centre’s Capital Reserve Fund to contribute to the costs of the project.
In addition, UNBC has done the work to obtain a sponsorship package for the naming of the gym floor for a total of $75,000.
Council unanimously approved the contribution.
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