BINGHAMTON (WBNG) -- The Broome County Legislature is expected to vote on a proposal next week that could pave the way to rename the former Floyd L. Maines Veterans Memorial Arena.
If approved, the arena would be named after Visions Federal Credit Union.
According to the proposed resolution, legislators will cast their vote on Thursday, August 13.
Visions would pay Broome County $60,000 per year until the year 2030, beginning on January 1, 2021.
However, if the county renovates the arena for $20,000,000, then the credit union would increase the annual payment to $120,000.
Under the agreement, Visions would also create a "reserve account dedicated to increasing the number of live events at the Veterans Memorial Arena and Forum Theater". The total under the new account would be in the amount of $126,000.
The arena is being renamed after Maine's Paper and Food's contract expired in June.