Council on Monday approved signing of a resolution agreement for the shareholders of the Northern Sport Centre gymnasium/fieldhouse facility on the UNBC campus.
The city has a 50 per cent share of the building’s ownership, in partnership with UNBC’s 50 per cent share, and has provided $300,000 annually since the building opened in 2007.
Council also heard details of a six-year, $75,000 sponsorship agreement to secure the naming rights of the NSC gym between UNBC and a yet-to-be-revealed sponsor, which will help pay the $150,000 cost of replacing the 16-year-old hardwood floor of the gym. The sponsor will receive $25,000 worth of sponsorship benefits, including a sideboard and Wolf Club passes.
Of the remaining $50,000 from the sponsorship agreement, the city will receive 20 per cent of that ($10,000) and the remaining 80 per cent ($40,000) goes to UNBC.
Council agreed to a request by the NSC board to direct the city’s $10,000 sponsorship portion to the NSC capital reserve fund to help pay for the new floor.
