OPSAIL 2012 Gets a Quick Infusion of Cash

Stuck in the financial doldrums, OPSAIL 2012 organizers appeared before New London City Council last night to ask for $50,000 to put a little wind in their sails and tide them over until state funds come in.

New London is anticipating that a state grant will help pay for OPSAIL 2012. But though OPSAIL organizers say they expect to receive about half a million dollars from the state, they’re finding themselves a bit strapped for cash in the interim.  

“I’m in favor of making sure the city supports OPSAIL financially,” Councilman Adam Sprecace said. However, he added, he had some hesitation about approving the appropriation because of the way the request was worded.

The initial request said the organization would refund the $50,000 when it was able to cover its costs. That sounded a little too subjective, Sprecace said. “There’s no guarantee the city will get it back,” he noted.

“I think Councilman Sprecace’s concern is a valid one,” said OPSAIL 2012 Chairman John Johnson, who stressed that he wasn’t asking for the city to fund the event.

“We’re not looking for additional funding but for something that will help us cover our cash flow,” Johnson said. “Once the state has funded us, we would immediately pay back the $50,000.”

Councilman Wade Hyslop asked how the organization would cover that amount if, for some reason, the state failed to come through with the money. Johnson said OPSAIL 2012 has budgeted to raise more than a million dollars from private and corporate donations.

In the end, the City Council voted to change the wording to make it clear that the $50,000 would come back to city coffers as soon as OPSAIL had the cash in hand, and unanimously approved the appropriation.