The sports fields and fieldhouse at Little Mountain will continue to be the Salmon Arm Savings and Credit Union Sports Complex for the next five years.
City council approved an agreement Monday authorizing the credit union’s right to the name as well as signage at the facility.
The credit union will pay a total of $12,000 for the agreement that expires Dec. 31, 2019.
While council members acknowledged the credit union’s many contributions to the community, staff were asked why the payment seems relatively low – $200 per month.
Carl Bannister, the city’s chief administrative officer, said in 2005, the credit union paid $60,000 for a 10-year agreement, which expired in August. He said the original fee was meant to assist with construction costs for lighting at the facility. He said in addition to the fee it paid, SASCU has installed and maintained signage during the life of the agreement at an additional cost of about $30,000.
The staff report notes the existing signage consists of a small fascia sign on the front of the building, a freestanding sign as well as score clock signage. They will be updated with SASCU’s new brand.
Council discussed the possibility of opening up naming rights to the public in the future, to give the opportunity to other businesses.
SASCU paid $184,000 over 11.5 years for the naming rights to the SASCU Recreation Centre, an agreement which expires on Dec. 31, 2016.
Coun. Chad Eliason was absent and Mayor Nancy Cooper stepped out as she sits on the credit union board.