Board of Directors Regular Meeting Agenda


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Meeting Date: 09/28/2016  

SUBJECT MATTER:
Receive, consider and act upon a  Signage and Sponsorship Agreement with Woodforest National Bank related to the Boathouse at Northshore Park C-2016-0486;
FISCAL IMPACT:
Under the signage/sponsorship agreement Woodforest National Bank would pay The Township $500,000 for the rights to place their signage on the rowing facility.  Dollars received from the agreement would be allocated to offset the initial capital cost of the rowing facility.    
BACKGROUND:
Over the course of the past 30 years, rowing has been on Lake Woodlands and at Northshore Park. Since that time, the rowing community has received various approvals (WCA/Township) to locate storage units at Northshore Park. The size of the units and footprint within the park has expanded due in part to the growth of the community and the growth of rowing.  During the planning process of the Northshore Park renovation,  the Board directed staff to work with the rowing clubs on developing a concept for a rowing facility in the park, and return to the Board with the plan.
 
Woodforest National Bank has presented a signage/sponsorship proposal to provide $500,000 to The Woodlands Township to support the construction of a boathouse at Northshore in exchange for signage rights on the facility.  The Board reviewed the initial agreement (April 27, 2016) and provided direction to staff to review with Woodforest a number of items which include but are not limited to: length of the agreement (10 years), signage must be approved by the Design Standards Committee, assignment clauses, material changes, etc.  These items have been substantley included in the current proposed agreement. 
 
Please see Attachment A for the proposed agreement and Attachment B for a conceptual layout of the sign on the south façade (side facing the park).
 
 
RECOMMENDATION:
Approve the Signage Sponsorship Agreement with Woodforest National Bank as presented and approved as to final form by the Township Attorney and authorize the President/General Manager to execute the final Agreement.
Attachments
Attachment A - Signage Sponsorship Agreement Woodforest National Bank
Attachment B - Woodforest National Bank Sign Concept Design


    

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