City Council Memorandum
TO: HONORABLE MAYOR AND CITY COUNCIL DATE: DECEMBER 12, 2023 FROM: LIBRARY DEPARTMENT WARDS: ALL
SUBJECT: APPROVE A DONATION AND NAMING RIGHTS AGREEMENT FOR THE EARLY LEARNING CORNER AT THE MAIN LIBRARY FROM RIVERSIDE PUBLIC LIBRARY FOUNDATION IN THE AMOUNT OF $300,000 ISSUES:
Approve a Donation and Naming Rights Agreement for the Early Learning Corner at the Main Library from Riverside Public Library Foundation in the amount of $300,000.
RECOMMENDATIONS:
That the City Council:
Approve the Donation and Naming Rights Agreement in the amount of $300,000 with Riverside Public Library Foundation for naming rights to the Early Learning Corner at the Main Library to read as “Riverside Public Library Foundation Early Learning Corner” and Authorize the City Manager, or his designee, to execute all necessary documents and approve future addendums to the agreement.
BACKGROUND:
On November 16, 2021, the City Council received and filed information on the Riverside Public Library Foundation Literacy Legacy Naming Campaign for the Main Library and facility rooms.
On September 6, 2022, the City Council authorized Riverside Public Library Staff to develop a sponsorship campaign through a 5-year Memorandum of Understanding with the Riverside Public Library Foundation, a 501(c)(3) organization, to support the future development and sustainability of Riverside Public Library’s state of the art libraries and to advance the collective vision of expanding spaces for imagination, discover, and connections by provided books, digital resources, technology, adult and family literacy programs, classes/programs for all ages.
The Riverside Public Library Foundation’s goal is to raise over $10 million in monetary donations in 5 years. Contributions will be deposited into a Riverside Public Library Foundation (Foundation) fund for ongoing technology, materials, online resources, and special project needs for all Riverside Public Library locations. All proceeds will be collected and monitored by the Foundation. Funds are intended to augment the City of Riverside Public Library’s annual General Fund budget.
The Foundation and Library staff partnered and outlined an opportunity for the public to donate funds for the ability to name specific areas after themselves or their company. Naming rights of areas include Innovation Centers, Riverside Public Library spaces, facilities, buildings, etc.
DISCUSSION:
The attached donation agreement has come from a donor for a space called the Early Learning Corner located at the Main Library. There is (1) one Early Learning Corner available for naming.
Donor Amount Main Library Facility/Room
Riverside Public Library Foundation $300,000 Early Learning Corner The contribution will be made directly to the Riverside Public Library Foundation, a 501(c)(3) organization, to support the future development and sustainability of the Riverside Public Library’s state of the art libraries through provided books, digital resources, technology, adult and family literacy programs, classes/programs for all ages, innovation centers and spaces for gathering.
The amount of the donation reflects the published asking price listed for the corresponding space in the Riverside Public Library Foundation’s Literacy Legacy Program Brochure (see Attachment 2).
The term of the donation and naming agreement is for 20 years.
STRATEGIC PLAN ALIGNMENT:
This item contributes to Strategic Priority No. 1 Arts, Culture & Recreation and Goal 1.1 - Strengthen Riverside’s portfolio of arts, culture, recreation, senior and lifelong learning programs and amenities through expanded community partnerships, shared use opportunities and fund development.
The item aligns with each of the five Cross-Cutting Threads based on the definitions in the Envision Riverside 2025 as follows:
Community Trust - This item aligns with Community Trust by minimizing the expenditure of City funds through community partnership and involving the community.
Equity - This item aligns with Equity by facilitating equitable distribution of services to every member of the community through programs funded by donations, gift and trust funds.
Fiscal Responsibility - This item aligns with Fiscal Responsibility as the community would benefit with no financial implications to the City other than in-kind contributions of staff time.
Innovation - This item aligns with Innovation by continuing partnerships with the Friends of the Library and Riverside Public Library Foundation to secure funding for programming needs for the community.
Sustainability & Resiliency - This item aligns with Sustainability & Resiliency by providing fund development opportunity.
FISCAL IMPACT:
The total fiscal impact of the agreement is a donation of $300,000. The $300,000 in donation revenues will be deposited and managed by the Riverside Public Library Foundation, a 501(c)(3) organization.
Prepared by: Angela Henson, Senior Management Analyst
Approved by: Erin Christmas, Library Director
Certified as to
availability of funds: Kristie Thomas, Finance Director/Assistant Chief Financial Officer Approved by: Kris Martinez, Assistant City Manager
Approved as to form: Phaedra Norton, City Attorney
Attachments:
Donation and Naming Rights Agreement
Literacy Legacy Program Brochure
Donation and Naming Rights Agreement ● Page 2