Councillors have endorsed selling the naming rights to the Urban Park on Charlotte Street to Quaker Foods.
The deal, which was was given preliminary approval at Monday night’s meeting, would see the city get $240,000 plus inflationary increases on annual payments over a 15-year term.
PepsiCo Canada has been actively marketing its Quaker brand this year as part of its celebration of 120 years in Peterborough.
Located near Charlotte and Aylmer streets, the new urban park is being developed at the site of the former Louis Street parking lot.
