A local hospital is cutting the cost to taxpayers to the tune of $2.5 million through the now renamed Kansas Expocentre.
Stormont Vail Health has signed a 10-year contract with the facility’s owner, Shawnee County, and manager Spectra. After a first-year payment of $325,000, Stormont Vail will pay $250,000 annually over the next decade to rebrand the Expocentre as Stormont Vail Events Center.
The contract details Stormont gets additional rights, including changing all signs to display the new name on areas ranging from building and parking lot signs to 64 exterior and interior glass doors. Stormont will also be featured on the Landon Arena scoreboards.
The contract also stipulates some conditions on the renaming:
(i) In no event may Sponsor rename the Facility more than once during the Term and (ii) Sponsor will not have the right to rename the facility if any of the transactions described… in Owner’s reasonable opinion, create or tend to create a negative connotation for, or impair or tend to impair the goodwill of, the Facility.
The contract also gives Shawnee County and Spectra the right to terminate the agreement, if they refund unearned parts of that year’s annual payment.
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