Does Vancouver need a permanent city sign for tourists?

This is Vancouver

Vancouver city councillor Peter Meiszner put forward a motion to put up a permanent sign at Canada Place that bore the city's name. City of Vancouver staff released a report detailing the costs to install and maintain, which adds up to more than $300,000 and $50,000 per year to maintain. Along with contributions from private partners, the overall cost of the sign is between $550,000 to $1 million.