Latest deals with Metal Craft and The Bank of Elk River bring sponsorship totals to more than $1,344,500
by Jim Boyle
The Bank of Elk River and the Metal Craft have reached agreements with the city of Elk River to provide a multi-facility naming partner for several marketing opportunities.
The two Elk River businesses have agreed to sponsor the Furniture and Things Community Event Center, Lion John Weicht Park and the Youth Athletic Complex by marketing their businesses for a five-year period at these venues.
These are the fourth and fifth sponsorship deals inked by the city for the community event center with the help of Chris Potenza of Frontburner Sports. Potenza found the latest partners were interested in a multi-facility marketing opportunity. The city has secured more than $1.3 million that will flow to the city over a 15-year period of time with mix of multi-year deals.
Furniture and Things agreed to be the official facility partner of the community event center for $65,000 per year for 15 years totaling nearly $975,000.
Serrano Brothers Catering agreed to provide cafe-style operations for concessions and catering services through a staggered seven-year agreement that will bring the city $5,000 for year one, $10,000 for year two and $15,000 for years three through seven for a total of $90,000. In addition, the city will also receive 12% of concessions and 6.5% of catering sales in the facility.
Cornerstone Automotive agreed to sponsor Arena No.1 for a term of seven years at $28,500 per year for a total of $199,500.
The latest agreements will bring in more than $80,000 within five years. The rates and elements of the agreements vary between the two proposals. The Bank of Elk River has agreed to pay $8,000 each of the first two years and at a rate of $9,000 for each of the last three years of the agreement.
Metal Craft has agreed to pay $7,500 each of the first two years and at a rate of $7,600 for each of the last three years of the agreement.
Between the two of them there will be dasher boards displayed in the two new rinks at the Furniture and Things Community Event Center and various signs at the baseball and softball complexes.
Funds received for the addition of dasher boards and outfield fences will be split evenly between the facility fund and park improvement fund. The Bank of Elk River also has an option for marketing the ice resurfacer machines when the current agreements expire. Those funds will be retained in the facility fund.