Vancouver plans on giving corporate names to parks, other city assets

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Vancouver city staff are working on ways to attract corporate donors to seek naming rights for city and park board assets.

On Monday, Vancouver mayor Ken Sim said that city staff had begun work “related to revenue generation from sponsorships, donations, and naming.”

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During a Vancouver Board of Trade meeting in February, Sim raised the idea of using private entities to name city and park board assets in exchange for cash.

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Sim said he thought this could raise up to $100 million a year and could lead to a drop in property taxes paid by residents and businesses.

Sim also pointed out that hospitals, universities and event spaces already rely on corporation naming sponsorships.

Most recently, the Vancouver park board-controlled PNE approved a deal in which Freedom Mobile would be given naming rights to a new amphitheatre under construction.

The PNE has subsequently asked Vancouver residents whether they would like the $100 million project to be called the Freedom Mobile Amp, Freedom Mobile Arch, Freedom Mobile Rise or Freedom Mobile Place.

“Mayor and council are committed to exploring new and innovative ways to address our city’s $500 million annual infrastructure funding deficit and support our growing community without burdening taxpayers,” Sim said.

“In line with mayor and council priorities, as well as the early recommendations and findings from the Mayor’s Budget Task Force report, staff have commenced the work to start initial conversations with interested parties as soon as fall 2024.”

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