August 7th, 2012
Naming Rights Are Viable Funding Tool
Yankton Daily Press and Dakotan
The question of whether the City of Yankton should entertain the idea of offering naming rights for a project in exchange for a large donation will probably require an answer — and soon — from our city commissioners.
According to a story in Saturday’s Press & Dakotan, Todd Larson, head of the city’s Parks and Recreation department, has brought up the topic although the city commissioners have not really considered the subject.
However, it might be fair to say that, in theory, this matter may have a real bearing on the eventual growth of this community.
The idea of offering a group or a company the right to name a project in exchange for, most likely, a sizable cash contribution toward that project has become an important source of revenue for public entities as they strive to push projects forward.