Library sells naming rights to room

Cloquet city councilors unanimously approved an agreement Tuesday that will give naming rights for a new meeting hall to Northwoods Credit Union in exchange for a gift of $80,000 from the local credit union. Under the terms of the agreement, Northwoods will pay $40,000 upon execution of the agreement, followed by four $10,000 gifts beginning in 2021. In years six through 20 of the 20-year agreement, Northwoods agreed to provide additional support of $1,000 per year.

The Cloquet Shaw Memorial Public Library Foundation has been working with Northwoods on the gift, which will help the foundation reach its $250,000 fundraising goal, to support the furnishing of the new addition that is under construction. The naming rights for the meeting hall do not preclude any other organizations from negotiating for the naming rights of other areas at the library.