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Meeting Date:
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8/25/2022 - 6:00 PM
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Category:
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Consideration and Possible Action Item (s)
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Type:
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Action
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Subject:
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Modifications to Board Policy CW(LOCAL): Naming Facilities
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District Goals:
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Enclosure
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File Attachment:
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Summary:
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Over the past few months, the Administration has been conducting due diligence with regard to possible opportunities to generate additional revenue for the District from the new Multipurpose Sports Complex. Our findings reveal that there are at least 18 Texas school districts that have been able to generate significant revenue from their athletic stadiums through the execution of naming rights agreements.
Most recently, Prosper ISD established a $2.5 million agreement with Children’s Health ($250,000 per year, for 10 years).
Districts have great latitude with regard to the appropriation of this additional revenue and most commonly have used this revenue stream to support costs associated with extra-curricular program offerings, and any/all maintenance and utilities expenses required for facility operations.
Of the aforementioned 18 school districts that have approved naming rights agreements, many of the partnerships have been formed with banking institutions and healthcare providers.
As such, CISD Administration is requesting this modification to Board Policy language to ensure that these types of entities are incorporated into the standards and guidelines for the possible naming of District facilities.
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Budgetary Impact:
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Possibility for additional revenue generation
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Recommendation:
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Recommend approval of the modification to Board Policy CW(LOCAL) as presented.
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Approvals:
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Recommended By:
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Signed By:
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Leon Fisher - Executive Director
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Signed By:
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Michael McFarland - Superintendent
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Vote Results:
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| Original Motion | | Member Kelicia Stevenson Moved, Member Mia Hall seconded to approve the Original motion 'Recommend approval of the modification to Board Policy CW(LOCAL) as presented.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 7 Nay: 0. | | The motion Carried 7 - 0 | | | | | June Davis | Yes | | Mia Hall | Yes | | Gary Grassia | Yes | | LaTonya Mayfield | Yes | | Nedra Robinson | Yes | | Kelicia Stevenson | Yes | | Daryl Davis | Yes | |
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