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The Saratoga Little League got a boost from the city when the council agreed to extend the length of time the league has to make good on a loan repayment for improvements to Congress Springs Park.
Due to an unforeseen cash flow problem and uncertainty over the league's ability to match last year's fundraising performance, the league requested that the annual repayment date be changed from Dec. 31 to June 1 and to extend the repayment period from three to five years.
"Restructuring the loan will take away the pressure we are feeling about fundraising this year," stated league President Dennis Farmer in a letter to the mayor.
The original donation agreement between the city and the league stipulated that the league would donate $30,000 per year for three years to the Saratoga Youth Sports Fund to repay the city, which dipped into its general fund to advance $90,000 for additional improvements beyond what was included in the park's improvement project last year.
In Farmer's letter, he stated that the league's main sources of revenue are derived from registration fees and fundraisers. While there is enough money to secure uniform and equipment purchases, having to repay the loan in December would cause the league to run out of operating funds by spring—before money from fundraisers will have kicked in. As a result, the league requested that the repayment date be pushed to June.
Furthermore, Farmer explained that due to economic hardships experienced throughout Santa Clara Valley, the league has no way of knowing whether it will acquire as much money through fundraising as before. As such, he suggested that an annual repayment of $18,000 over five years is more feasible than $30,000 over three years.
With no dissent from anyone on the council or from members of the public, the council voted 4-0, with Councilman Stan Bogosian absent, to honor the league's request.
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