Vancouver City Council has approved a new policy on corporate sponsorships and naming rights for city-owned assets, with the potential renaming of the iconic Kitsilano Pool taking centre stage.
Councillor Sarah Kirby-Yung emphasized that the new policy on corporate sponsorships and naming rights could help Vancouver address its “significant infrastructure gap.”
Kirby-Yung told CBC News, “If this is an opportunity to bring in some additional funding and dollars that can help us to keep taxes moderate and, at the same time, help to expedite the renewal of our infrastructure, then I think that that’s a good thing.”
The new policy excludes parks, streets, libraries, and police assets but expands sponsorship opportunities to property, services, publications, vehicles, and digital platforms. Mayor Ken Sim believes corporate sponsorships could generate up to $100 million annually, providing a critical revenue boost.
City staff will now assess interest from potential sponsors and identify assets for council’s review. Sponsors will be vetted to ensure alignment with the city’s values, excluding political, religious, or advocacy groups and those with criminal or human rights violations.
Council will have the final say on naming rights, meaning the iconic Kitsilano Pool’s future name—and funding—may soon rest in corporate hands.
Last modified: November 14, 2024
