Praça Roosevelt, in the city center, will be granted to the private sector Praça Roosevelt, one of the best-known public spaces in the center of São Paulo, could be named after a private company if the concession project launched by the administration of Mayor Ricardo Nunes (MDB) advances. The proposal, placed under public consultation by the city hall, authorizes the future concessionaire to sell the so-called naming rights of the square. In return, the City of São Paulo will keep 20% of the gross revenue obtained from the operation. 🔎Naming rights are contracts that allow a company to associate its brand with the name of a space in exchange for payment. The model is part of the concession for the so-called Roosevelt Complex, which provides for the transfer of management of the space to the private sector for 20 years. In addition to the square, the contract includes underground parking, Belvedere Roosevelt, areas under Minhocão and Rua Gravataí. Skater Vitória Albanese at Praça Roosevelt, in the center of São Paulo. Marcelo Brandt/G1 Despite foreseeing the sharing of revenue from the sale of naming rights, the city hall did not disclose how much it expects to raise from the operation. The concession's business plan estimates annual revenue of R$4.6 million from parking, kiosks, events and advertising, but does not present a specific projection for naming rights. The call for public consultation was published in the Official Gazette on Wednesday (3). The public hearing is scheduled for June 17, at 10 am, virtually. Contributions from the population can be sent until July 1st to the email [email protected]. In a note, the city hall informed that the project follows the procedures foreseen for municipal concessions. Who can buy the name of the square The draft contract establishes a series of restrictions for companies interested in naming rights. Brands linked to alcoholic beverages, cigarettes, drugs, sports betting, weapons, adult content, political parties and religious entities are prohibited. Companies or people associated with cases of corruption, serious crimes or exploitation of slave labor will also not be able to acquire rights. According to the document, any visual identification linked to naming rights must comply with the rules of the Clean City Law and, when necessary, receive authorization from historical heritage preservation bodies. Investments According to the City of São Paulo, the concession is expected to generate around R$55.8 million over the 20 years of the contract, considering investments, operational expenses and payments to the municipality. The project foresees initial investments of approximately R$8 million. Among the planned interventions are the renovation of the kiosks, restoration of the pergola, expansion of the dog park, improvements to the square's drainage and the requalification of Rua Gravataí, which should function as a link between Roosevelt and Parque Augusta. The notice also establishes that the company that wins the bid must pay at least R$2.96 million to the city hall to take over the management of the complex. Whoever presents the highest offer above this value will win the dispute. In addition to the initial grant, the concessionaire will have to make periodic payments to the municipality and share part of the revenue obtained from the economic exploitation of the space.