City to Consider Naming Opportunity for the Convention Center

At its regularly scheduled meeting on Tuesday, June 16, the Raleigh City Council will hold a public hearing to hear comment on a proposal to name the Convention Center the "Atlantic Union Bank Convention Center."

The Convention Center is located at 500 South Salisbury Street. The proposed name will be applied to the Convention Center for an initial term of 15 years with the opportunity for two (2) 5-year extension terms. In exchange for the City granting Atlantic Union Bank naming rights to the Convention Center, Atlantic Union Bank has agreed to pay the City an annual naming rights fee, which first annual fee shall be in the amount of $525,000.00 and shall therefore escalate by 2% on an annual basis during the initial term of the agreement. If approved by Raleigh City Council, the parties will enter into a written agreement setting for the term length and naming rights fee together with other associated rights and responsibilities of the parties following the public hearing.

The public hearing will be held during the afternoon City Council session starting at 1 p.m. Members of the public wishing to speak at the hearing may sign up at the same manner as for other hearings on the June 16 agenda. This hearing is being set pursuant to the provisions of City Council resolution 2021-278.