Cavan-Monaghan Township council has agreed to take the next steps in a land annexation deal with the City of Peterborough.
The City wants to annex more than 4000 acres of land for residential and industrial development.
Township mayor Scott McFadden says it’s all about jobs.
It would pay the Township $2.5-million per year for the next 25-years and $475,000 to Peterborough County for the same duration as part of the deal.
The plan still needs city, county and provincial approval to move forward.
If that happens, public meetings will follow.
The boundary realignment would take place on January 1, 2018.