The City of Peterborough’s new $62-million arena complex, currently under construction in Morrow Park at Lansdowne and Park streets, will be named the Miskin Law Community Complex.
Peterborough city council, meeting as general committee on Tuesday night (October 10), endorsed a sponsorship naming rights agreement with Miskin Law, a personal injury and civil litigation firm based in Peterborough.
The agreement would see Miskin Law pay $600,000 to the city over 10 years, with $90,000 per year for the first five years and $30,000 per year for the second five years. Miskin Law would be responsible to pay any costs for branding of the facility, including signage on the building.
Expected to open in September 2024, the new arena complex will include two NHL-size ice pads and a running track, as well as a second branch of the Peterborough Public Library, two multipurpose rooms, and commercial office space. A potential future phase of the development would include an aquatics complex with an indoor swimming pool.
The budget for the first phase of the facility includes $1 million in sponsorship revenue — representing around 1.6 per cent of the total cost of the facility — to offset the project’s cost.
For the remaining $400,000 in sponsorship revenue, the city will be seeking sponsors for the two ice pads, the multipurpose rooms, the running track, and the library branch.
According to a report to general committee from Richard Freymond, the city’s commissioner of finance and corporate support services, city staff met with 11 potential sponsors for naming rights for the facility and recommended Miskin Law as the “best prospect” as the sponsor.
“The opportunity with Miskin Law represents an appropriate fit with all parties’ interests and aligns well with the building naming right asset,” the report reads.
The report cites Miskin Law’s reputation as a litigation firm, partner Murray Miskin’s past and present involvement with Trent University, Miskin Law’s membership in local organizations such as the Peterborough and the Kawarthas Chamber of Commerce, and the firm’s history of sponsoring local non-profit organizations, including naming rights for the stage at Market Hall Performing Arts Centre in downtown Peterborough.
General committee’s endorsement of the sponsorship agreement will be considered for approval at the regular city council meeting on Monday, October 23rd.
