ADMINISTRATIVE REPORT
MEETING DATE: August 27, 2025 AGENDA CATEGORY: Consent - Agreements TO: Honorable Mayor and City Council
FROM: Christan Clegg, City Manager
DATE: August 15, 2025
SUBJECT: Naming Rights Agreement with Valley Strong Credit Union (not to exceed $1,000,000.00) for purposes of designating a room the “Valley Strong Financial Wellness Center” at the future Martin Luther King Park Health and Wellness Resource Center, as well as installation by Valley Strong Credit Union of an Automated Teller Machine within a mutually agreed location.
RECOMMENDATION:
Staff recommends approval of the naming rights agreement
BACKGROUND:
The Martin Luther King Jr. Park (“Park”) is comprised of 16.55 acres, located at 1000 S Owens St, Bakersfield, CA 93307. The Park is currently in the beginning stages of a renovation and construction phase in order to meet local recreational demands, attr act, and accommodate regional , state, and national athletic competitions. The Park is intended to improve the health and physical fitness of residents.
When completed, the revitalization will include active and passive recreation activities, indoor and outdoor sports, meeting facilities, ample parking, picnic areas, and restrooms . Valley Strong Credit Union’s (“V alley Strong ”) mission extends beyond the provision of banking. V alley Strong looks to collaborate to address social determinants of financial literacy in the communities they serve; and Valley Strong desires to collaborate with C ity in an effort to promote and support the Park and its revitalization. T he purpose of this Agreement is to grant Valley Strong naming rights for a designated room at the Park’s new Martin Luther King Jr. Health and Wellness Resource Center through use of signage, including the exclusive right to have its logo affixed to the entrances of the room in the form specified herein so the general public comes to know the designated room as the “Valley Strong Financial Wellness Center.”
Additionally, City will allow Valley Strong to install an Automated Teller Machine within a mutually agreed location at the Martin Luther King Jr. Health and Wellness Resource Center, all of whic h will be Valley Strong’s responsibility.
Valley Strong will make a one-time payment to the City in the amount of $1,000,000.00 for a twenty-year naming rights period, beginning when the Valley Strong Financial Wellness Center is officially open to the public.
Staff recommend approval of the proposed naming rights agreement with Valley Strong Credit Union.
FISCAL IMPACT:
$1,000,000.00 Payment to the City
COUNCIL GOAL:
Community Character & Quality of Life
ATTACHMENTS:
Agreement