MIDFLORIDA Credit Union hopes to see its name in lights atop the Port St. Lucie Civic Center.
The nonprofit financial institution offered to pay $195,000 per year for five years for the naming rights to the Civic Center. “MIDFLORIDA Credit Union Events Center at Port St. Lucie” is the name tentatively selected for the 100,000-square-foot building at the heart of the City Center Community Redevelopment Area.
The City Council voted unanimously Monday to authorize City Manager Russ Blackburn to negotiate and execute a contract with MIDFLORIDA Credit Union for the Civic Center naming rights.
The deal would help the city stem more than $2 million in annual operating losses at the Civic Center. The council’s goal is to lose just $1 million per year on Civic Center operations.
MIDFLORIDA Credit Union has 50 branches throughout Florida, including four on the Treasure Coast: St. Lucie West, Gatlin Boulevard, River Park and Vero Beach.
“Naming rights for Port St. Lucie’s well-known landmark and high-profile event center is important in signifying MIDFLORIDA’s commitment to the community and region,” the credit union said it its proposal.
All announcements and advertising for the Civic Center and its events will refer to the MIDFLORIDA Civic Center, the proposal says. A MIDFLORIDA sign will be located above the main entrance to the Civic Center, atop the Village Square concert stage and on the parking garage facing U.S. 1, the proposal says. There will also be two MIDFLORIDA signs in the main lobby art gallery and another sign in the ballroom entrance area, the proposal says.
Naming rights deals are common at major government-owned entertainment and cultural venues throughout Florida, said Assistant City Manager David Graham.
MIDFLORIDA already has a deal for the naming rights at the Florida State Fair amphitheater in Tampa.
St. Lucie County has a naming rights deal for First Data Field, where the New York Mets play their spring training games.
Humana Medical Plan Inc. paid the city $185,000 since 2010 for the naming rights to the fitness and wellness center at the Civic Center, city records show.
The city has offered the naming rights for the Civic Center for several years, but had no takers until the most recent marketing campaign, which attracted MIDFLORIDA, Graham said.
MIDFLORIDA would pay the city $975,000 during the five years of the contract, which would be renewable for another five years.
“It’s a fair and reasonable price,” said Civic Center Director Linda McCarthy. “We think it’s a good fit.”
The new name would give the Civic Center a more regional brand, which will help marketing efforts, McCarthy said. That will attract more events, which will generate more revenue for the city.
