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<br />Request for Action <br /> <br /> <br /> <br /> <br /> <br />To Item Number <br />Mayor and City Council 4.5 <br />Agenda Section Meeting Date Prepared by <br />Consent October 2, 2023 Cal Portner, City Administrator <br />Item Description Reviewed by <br />Amend Naming Rights Agreement with <br />Furniture and Things <br />Reviewed by <br /> <br /> <br />Action Requested <br />Approve, by motion, an amendment to the Elk River Multipurpose Facility Naming Rights Agreement. <br /> <br />Background/Discussion <br />In October of 2020, the City of Elk River approved an agreement with Steve Hickman, owner of Furniture and <br />Things for the rights as the primary sponsor of the community’s event center. <br /> <br />Article III of the agreement calls for an annual payment on the annual anniversary of the effective date of the <br />agreement. <br /> <br />Furniture and Things representatives have asked to make their contribution in 12 monthly payments instead of <br />one lump sum. The city, grateful for their generous support and partnership has no concerns making this <br />accommodation. <br /> <br />Financial Impact <br />N/A <br /> <br />Mission/Policy/Goal <br />The Elk River Vision <br /> <br />Attachments <br /> Amendment <br /> Elk River Multipurpose Facility Naming Rights Agreement <br /> <br /> <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br /> <br />service, and community engagement that encourages and inspires prosperity. <br /> Updated: August 2020 <br />