Lakehill Soccer scored a $300,000 interest-free loan from Saanich council on Monday night to further plans for a new artificial turf field.
The loan, to be repaid in five years, will be added to the more than $600,000 Lakehill has managed to save for the field, along with a $250,000 Capital Gaming Grant. The total cost of the field is estimated to be in excess of $1.1 million.
The loan is similar to the one given to Lakehill in 2009 to install its first artificial turf field at Braefoot Park. The field is now deemed to be past its lifespan and could pose potential safety risk.
Other organizations that have received similar loans include Gorge Soccer, Prospect Lake Soccer, Greater Victoria Minor Football and Saanich Fusion Football.
A Saanich staff report noted the risk of non-payment is mitigated by the fact the district owns the land and failure to pay would mean the field reverts to Saanich for public use.
Lakehill Soccer is the home user club of the Braefoot field and takes the responsibility for maintenance and management in exchange for free use of it.
