Approve 15-year Quaker park naming rights sponsorship

Councillor Votes

Full Resolution Text

That Council approve the recommendations outlined in Report CAOCS22-006, dated September 12, 2022, of the Chief Administrative Officer as follows: a)That Naming Rights to the Urban Park, located on Charlotte Street east of Aylmer Street, be added to the Sponsorship Asset Inventory; and b)That the City enter into a Sponsorship Agreement with PepsiCo Canada ULC., or a subsidiary of this corporation that represents Quaker Foods, for the Naming Rights to the Urban Park for a term of 15 years with a value of $240,000 plus inflationary increases on annual payments, and that the Mayor and Clerk be authorized to execute the agreement on terms acceptable to the City Solicitor and the Chief Administrative Officer.