Broome Legislature to Vote on New ‘Vision’ for Arena
The Broome County Veterans Memorial Arena could have a new name again very soon.
The Broome County Legislature is scheduled to vote August 13 on a proposal that would have Visions Federal Credit Union buying the naming rights for the Arena and the Forum Theater box office.
The proposal before the legislature is for a ten-year agreement at $60,000 a year.
If at least $20,000 in renovations in renovations were to be made to the facility located directly across from Governmental Plaza, the yearly fee would increase to $120,000 annually. Arena manager, Chris Mario says there are no renovation plans in the works right now.
The legislation also says Visions would create a $126,000 per year reserve account dedicated to increasing the number of live events at the venue.
The agreement also carries an option for a five-year renewal, for a possible total 15-year commitment.
The naming rights recently came up as the previous deal with Maines Paper and Food expired and that company sold off some of its divisions and filed for bankruptcy in June.