Is Corporate Sponsorship the Solution to Budget Shortfalls?

[TarHeelJ]

Originally Posted by seaskyfan

I think the implication that these are "desperate times" is a flawed assumption that is being used to lay a foundation for more of this sort of thing in the future. The Pittsburgh program is supposed to create $500K a year in revenue - they really can't cut programs or increase revenues to make up that kind of money?

I think there's a combo of lazy politicians and opportunists who see a chance to make a buck off of pushing what they present as "free money" and then profit handsomely from.

Does anyone think that this sort of sponsorship will go away when the economy improves?

True, desperate is a little much...but you have to admit times are hard and money is short. I hope this idea goes away one way or another in the near future. It can't be very popular with the general public, so maybe there will be enough backlash to squash it.

[M II A II R II K]

Mayor wants to raise money by selling ad space on city property

Read More: http://www.wbez.org/news/mayor-wants...roperty-103469

Mayor Rahm Emanuel’s administration is unveiling plans to rake in millions next year by leasing dozens of billboards on city-owned property, selling advertising space on downtown trash bins and finding a corporate sponsor for the city’s recycling program.

- The trio of so-called “municipal marketing” deals is part of a long-delayed proposal Emanuel’s administration hopes will bring extra money to the cash-strapped city, at virtually no overhead cost. The mayor’s 2013 budget proposal, now being considered by the City Council, expects the marketing efforts to bring in $18 million to help close a projected $298 million budget gap without raising taxes or fees. “We live in an age where our taxpayers don’t want to pay any more taxes, [but] our citizens can’t accept less services,” said Chicago’s chief financial officer, Lois Scott, in an interview Friday with WBEZ.

- The biggest-dollar proposal would allow a private company to build and maintain 34 electronic billboards along Chicago expressways for the next 20 years. If approved by the City Council, the lease would guarantee at least $15 million in revenue next year, with the city splitting anything beyond that 50-50, Scott said. The city’s share of the revenue would shrink over time, but Scott said the plan is expected to bring in at least $154 million, and maybe up to $270 million over the next two decades.

- The deal would also let the city put its own images into rotation, including traffic notices, emergency alerts and even public art. While Scott said the city will be careful not to obstruct historical architecture or clutter the Loop with ads, Chicagoans will likely notice other small changes downtown and in their neighborhoods. Ads will pop up on 375 side-by-side trash bins in the Loop, under a contract signed earlier this month with New York-based Vector Media. It’s unclear how much money the deal is worth, but Scott said the city will split ad revenue with the company down the middle.

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[M II A II R II K]

Debt-ridden city looks to sell naming rights

Read More: http://www.smartplanet.com/blog/bull...ng-rights/4392

The city of Izumisano in Japan is looking for a quick profit to help reduce its $1.2 billion debt. No need to get too familiar with the city’s name, though. They’re hoping to sell its naming rights — like you see with many sports stadiums in the United States — for about $12 million over 10 years.

- The plan is clearly to earn money from naming rights and attract a private corporation looking to put down roots in the city, creating revenue to help lower the debt. It’s not a bad idea, but if the city changes its name, what will the city be left with when the 10 year contract is up? They might have another crisis on their hands: an identity crisis.

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[mhays]

That would be asinine. A city's name is worth many, many times that, and the concept is full of huge flaws to begin with.

Name recognition would be a problem from day one, and happen again after the contract ended. I don't mean just PR, but also simple stuff like any reference to the city confusing people.

The whole thing would advertise to the world that the city sucks so bad it had to whore itself out.

And so on.