Lafayette Lions pay off park loan ahead of schedule

by Ruth Klossner
What started as a five-year loan has been paid off in half that time by the Lafayette Area Lions.
In December 2023, the City of Lafayette issued a $110,000 bond to the Lions for the renovation of the kiddie playground at the city park. With annual payments of $27,024, the bond was to mature February 1, 2029, at a total cost of $135,474.
Gambling on support from the community, along with Lions’ charitable gambling, club members felt confident in the project to upgrade the playground equipment.
Bond stipulations allowed the loan to be repaid without penalty after February 1, 2026. With sufficient income—both from charitable gambling proceeds and community donations—the Lions made the final payment earlier this month.
Lafayette Lions gambling manager Dave Reed noted that the early payoff saved the club a considerable amount of money—that can now be used for other community projects.

For the entire story, check out the June 24 issue of the Winthrop News.