There will be a public meeting on Monday at 7pm in the town hall to discuss Penryn Town Council’s proposal to swap the lease for Permarin car park with a similar lease for Commercial Road car park.
The purpose is for councillors to hear what the public’s views before the Town Council makes a decision at its meeting on 2 December.
A spokesman for the countil said: "There is a common myth that the car park was ‘gifted’ to the town.
"This is not the case. The land on which the car park sits was sold in various smaller packages to Penryn Borough Council between 1927 and 1957.
"Penryn Borough Council was merged with Falmouth and Truro in 1972 to form Carrick District Council and many of its assets, including the car park, were transferred.
"The car park then became the property of Cornwall Council with the formation of the unitary Council in 2009.
"The Town Council leases the car park from Cornwall Council, currently at a cost of £6492.66.
"This amount comes out of the precept at an annual cost to the average Band D taxpayer in Penryn of around £3.45.
"The proposal was put forward by the Penryn Traders Group as a way of increasing the footfall in the town by providing more parking for visiting shoppers."