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HCC naming rights for sale

September 28, 1999|By BRUCE HAMILTON

Naming rights to Hagerstown Community College buildings can be purchased under a policy the school's Board of Trustees approved Tuesday.

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The board unanimously adopted guidelines under which donors can name entire buildings, as well as rooms, floors and gardens. The money raised will go into a foundation endowment, primarily for scholarships.

The trustees endorsed the concept in April but asked foundation representatives to come up with a detailed procedure. The foundation is a separate nonprofit organization with about $3.9 million in assets, according to Vice President Pete Low.

President Jeff Fisher and Low presented pricing guidelines that include seeking between $750,000 and $1 million to name the new Learning Resource Center. Seminar rooms are priced at between $150,000 and $250,000.

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Naming rights for computer work stations are $1,000 each and for gardens range from $5,000 to $25,000. Portions of the Learning Resource Center, including tables and closets, may be named.

The foundation will provide a color-coded diagram of the building, detailing what portions are available for naming rights.

"Of course, the naming of the entire building is the big opportunity," the guidelines state.

Low said a building's value may rely on its visibility and marketability. The Athletic, Recreation and Community Center may fetch a higher price because it gets a lot of publicity, he said.

Facilities that are already named, such as the Mable R. Walter Arboretum, Atlee C. Kepler Theater and William M. Brish Library, will not be available for renaming. And only new donations will earn naming rights.

With pricing areas approved, the foundation may proceed with smaller deals without board approval. However, the policy says it will consult with the trustees about prospective buyers for naming rights for a building.

"We would counsel with the trustees as to with whom we are in substantive discussions, what the figure is we are talking about, any stipulations or contingencies that have been put on the table," the police says.

"This would allow for the trustees to let us know what they feel is acceptable and if the potential donor is acceptable."

During a discussion in April, Trustee Carolyn Brooks expressed opposition to displaying corporate logos on campus property.

The main purpose of the foundation's endowment is to provide scholarships. But Low said the organization's bylaws have been changed to allow it to accept donations for other purposes, such as endowing a chair, buying land, equipment or facilities.

Separate funds may be established for those other purposes. Low said the foundation should be able to accommodate donors' wishes.

"We want to be flexible," said Low.

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