SACRAMENTO -- It's going to cost the city of Sacramento more than $200 million to renovate the downtown Convention Center, Memorial Auditorium and the Community Center Theater.
A big chunk of the funding for the project will come from the city's hotel tax. For the rest, the city has hired a consulting firm to look for corporations both locally and nationally that may be interested in being a sponsor and purchasing the naming rights for the convention center.
Sacramento has a long and successful history of naming rights for its buildings. The Sacramento Kings became the first NBA franchise to sell their naming rights for their arena, and ARCO Arena was a household name for many decades.
The Golden 1 Credit Union bought the naming rights to the Kings' new arena for $120 million. The deal got the local credit union national recognition. That positive name association is what the city hopes for the convention center.
The city says it expects several bid options in the next few weeks.
The only companies not welcome to bid, the city says, are tobacco and firearm companies.