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Sioux Falls council approves $160,000 consultant contract to value parks naming-rights and sponsorship assets
Summary
The City Council approved an 11-month, $160,000 contract with Maximizing Excellence LLC to assess the value of naming-rights and sponsorship opportunities for major parks and recreation facilities, passing 5–3 after questions about need and return on investment.
The Sioux Falls City Council on Tuesday approved a contract authorizing Parks and Recreation to hire Maximizing Excellence LLC to develop valuation and sponsorship strategy for the city’s large recreation assets.
The contract, not to exceed $160,000 and lasting about 11 months, will produce asset valuations and solicitation strategies to guide potential naming-rights and interior-sponsorship sales for major recreation projects such as Frank Olson Recreation Center, the Keene Park aquatic center and the recently acquired Westside Rec Center.
City Director of Parks and Recreation Don Kearney told the council the consultants will help determine appropriate price points and donor alignment for interior and title naming opportunities. “We’re really going into a time of fundraising and sponsorships at a level that we’ve really not seen before,” Kearney said, adding that the firm can help with targeted major-ask calls if…
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