Title
CATS Sponsorship and Naming Rights Program Services
Action
Action:
A. Approve a contract with Innovative Partnerships Group for services associated with the CATS Sponsorship and Naming Rights Program for a term of two years, and
B. Authorize the City Manager to renew the contract for up to two, one-year terms with possible price adjustments and to amend the contract consistent with the purpose for which the contract was approved.
Body
Staff Resource(s):
Brent Cagle, CATS
Brandon Hunter, CATS
Larina Green, CATS
Explanation
* CATS is seeking assistance with the negotiation of corporate sponsorship and naming rights for a certain set of intangible and tangible assets.
* This vendor will develop and execute a revenue generating corporate sponsorship and naming rights program.
* The vendor will analyze and evaluate CATS intangible and tangible assets, develop a thorough database of assets, execute a comprehensive marketing strategy, and implement a program for solicitation and brokering of extensive revenue deals.
* The vendor is required to ensure that all sponsorship and naming right deals comply with the city's Sponsorship policy and the Metropolitan Transit Commission Transit Advertising and Sponsorships policy.
* These revenues will help to offset operating costs.
* On November 15, 2022, the city issued a Request for Proposal (RFP); four responses were received.
* Innovative Partnerships Group (IPG) best meets the city's needs in terms of qualifications, experience, cost, and responsiveness to RFP requirements.
* The contract accounts for two phases of program development:
* Phase 1 ($90,000): asset analysis and evaluation, database development, identify opportunities, marketing strategy, and sponsorship policy assessment
* Phase 2 (estimated $549,450): program implementation including soliciting and closing revenue generating deals
* Commission levels:
* Total transaction value $0 - $1,000,000, 15%
* Total transaction value $1,000,000.01 - $4,999,9...
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