The Huber Heights music center officially has been named.
The city’s $19.3 million music venue will be called the “Stuart & Mimi Rose Music Center at The Heights” after City Council approved Thursday night a $4 million lifetime naming rights deal with the Stuart Rose Family Foundation.
The contract calls for the $4 million to be paid out over two 10-year terms, at $200,000 a year.
“The wisdom this council has shown in continuing to invest in our city and its citizens is impressive,” Councilman Mark Campbell said. “We all know long term the only way to achieve the necessary income, jobs, quality of life and future health of our city will only be accomplished by growing our tax base, and today, we see the fruits of our efforts.”
Rose is the CEO of REX American Resources Corp., a Dayton-based ethanol producer. REX American Resources previously operated as REX Stores Corp., a retailer of electronics and appliances, before closing its stores and exiting the retail business.
Rose and his wife, Mimi, were unavailable to attend Thursday night’s meeting. He was out of town on business.
“This is one of the greatest initiatives that has occurred in the Dayton area, and it will serve as another attraction that will make our region great,” Rose said in a statement. “The music center is a testament to the greatness of the people who put their minds together to deliver something truly positive.”
Now that the music center has its official name, Huber Heights City Manager Rob Schommer said the next step is to market that identity, including launching a website. Schommer said the music center’s website is expected to go live within a week.
“We’re within weeks, not months,” Schommer said of announcing shows. “It’s astounding how well everything has come together and how well this project has manifested through the very steps. Things are coming together seamlessly.”
A $2 million lifetime deal — $200,000 a year for 10 years — with the same foundation had been originally discussed. Schommer previously said the city had naming rights conversations with about 10 interested parties over the last year and a half.
According to the city’s management agreement with Music and Event Management, Inc., the entire revenue generated by the music center’s naming rights directly goes to Huber Heights. The city will pay MEMI $225,000 annually to manage the music center.
The music center’s VIP area will be named the “Circuits & Cables VIP Area” — an agreement that will pay the city $40,000 annually for the first five years of the deal.
The music center is completed and will open in the spring. The 4,500-seat covered seasonal venue is located at 6800 Executive Boulevard.