REQUEST FOR LEGISLATIVE ACTION
Description (e.g., Contract Authorization for Information Services):
title
Request to renew contract between the Albany County Arena and MVP Health Care to maintain current naming rights for an additional five years.
body
Date: 9/3/26
Department: MVP Arena
Attending Meeting: Bob Belber and Stefanie Thomas
Submitted By: Wesley Hartmann
Title: Operations Analyst
Phone: 518.447.7036
Purpose of Request: Contract Authorization 5-Year Renewal
CONTRACT TERMS/CONDITIONS:
Party Names and Addresses:
MVP Health Care, 625 State St., Schenectady, NY 12305
Term: (Start/end date or duration) 1/1/2027 to 12/31/2031 (w/ 1 additional option to renew)
Amount/Raise Schedule/Fee: $600,000 per year for naming rights for 5 years (+$1.4 million annually for Innovation Fund)
BUDGET INFORMATION:
Is there a Fiscal Impact: YES
Anticipated in Budget: YES
Spreadsheet attached: NO
Source of Funding - (Percentages)
Federal: Enter text. County: Enter text.
State: Enter text. Local: 100
County Budget Accounts:
Revenue Account and Line: A7128 02451
Revenue Amount: $600,000 per year
Appropriation Account and Line: Enter text.
Appropriation Amount: Enter text.
ADDITIONAL INFORMATION:
Mandated Program/Service: NO
If Mandated, Cite Authority: Enter text.
Request for Bids / Proposals:
Competitive Bidding Exempt: YES
# of Response(s): Enter text.
# of MWBE: Enter text.
# of Veteran Business: Enter text.
Bond Resolution No.: Enter text.
Apprenticeship Program NO
Previous requests for Identical or Similar Action:
Resolution/Law Number and Date: 21-507
DESCRIPTION OF REQUEST: (state briefly why legislative action is requested)
Requesting authorization to exercise the first of two 5-year optional renewals for the naming rights of the Albany County Civic Arena. This will maintain the name of the arena as MVP Arena in exchange for $600,000 per year for naming rights as well as an additional $1.4 million annually to the Innovation Fund. Naming rights will be maintained from 1/1/27 to 12/31/31.