Updated Feb. 16, 2018, 6:24 a.m.
The Sacramento Municipal Utility District’s board of directors voted unanimously Thursday night to approve a naming rights partnership with the Powerhouse Science Center.
The move will increase SMUD’s financial commitment to $9.25 million over a 15-year period — more than four times its initial investment.
Sacramento Councilmember Steve Hansen called the deal a great fit for the community and SMUD. But he also says it's more than that.
“The bottom line really is that this project, without this type of sponsorship, could not go forward,” he said.
Hansen says the increased sponsorship will make it possible to break ground on the project this summer.
The Powerhouse Science Center has been in the planning stages for 10 years. It's a signature project for Mayor Darrell Steinberg's waterfront plan, west of the Railyards and north of Old Sacramento.
The overall cost is expected to run roughly $50 million, which will be covered by the city, special federal bonds, and donors.