City staff is recommending that a new urban park being developed in downtown Peterborough be named the Quaker Foods Urban Park.
In a report going before city councillors tonight (Monday), CAO Sandra Clancy recommends the City sign a 15-year sponsorship agreement with PepsiCo Canada for the park’s naming that will bring in at least $240,000 in revenue.
In her report, Clancy notes Quaker’s “historic” presence in Peterborough, adding plans for a farmers’ market to be located there is “an ideal fit” with the company’s food production focus.
Clancy adds several organizations and businesses expressed interest in the naming opportunity but Quaker emerged as “a strong strategic fit.”
Located near Charlotte and Aylmer streets, the new urban park is being developed at the site of the former Louis Street parking lot.
Quaker is marking 120 years in Peterborough, having opened at its current Hunter Street location in 1902.
