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The Sterling Renaissance Festival in 2013. The festival may not open this summer if it doesn't raise $300,000.

(Brett Carlsen/ bcarlsen@syracuse.com)

A popular Central New York attraction for nearly 40 years - the Sterling Renaissance Festival - may not open this summer unless it raises $300,000 by July 5.

Festival management is turning to the public to help raise that money through a campaign on the festival website which asks supporters to each give $100, and through an online crowdfunding site, Rockethub.

Incentives range from two free day passes for $100 donors to season passes up to sterling engraved "Forever Passes" to $5,000 donors.

Owner Doug Waterbury said the $300,000 gap is not indicative of the festival's overall financial picture, and is merely needed to cover the operating expenses required to get it open.

"We have almost no debt, but still have operating costs,'' he said. "It's very straightforward and simple."

Waterbury said in a telephone interview Sunday night that the festival - along with Sylvan Beach Amusement Park and Santa's Workshop in North Pole, N.Y. - are not in financial trouble.

He said he has been paying down debt on these businesses, which he said needed sizable investments when he bought them.

"When you take over businesses it takes awhile before they become profitable,'' he said. "I have needed to borrow less and less each year on Sterling."



Waterbury purchased the festival in 2008.

When asked if Sterling and Sylvan Beach Amusement Park, which has delayed its opening twice this summer, are in financial trouble, Waterbury said 'no.'

The Sterling festival costs about $1.5 million to operate during the summer, and Waterbury said this year he's invested about $1.2 million of his own capital to get it ready to open. He needs another $300,000, but says the private lender he was counting on told him at the last minute he couldn't provide the money this year.

"It's just a bridge loan we need,'' Waterbury sad. "We didn't realize it until recently, so we now have to scramble."

In 2012, Waterbury had a dispute with Cayuga County officials over when the festival had to pay its property taxes.

Last summer, Waterbury said he needed to borrow $850,000 to get the festival open, and paid that back by Labor Day. This summer he needed $300,000, and he says next year he won't need to borrow any money at all.

Faced with the shortfall, Waterbury said he gathered his board, which he calls "The Knights of the Rectangular Table" and asked them what they should do. They brainstormed and came up with the idea of reaching out to supporters, and to the public nationwide.

"We had to get creative,'' he said. "We put together the campaign. PBS does fundraisers like this, and we are a very cultural experience."

Waterbury said he's confident the campaign will help the festival open on time, as more than $6,000 was raised by Sunday night.

This comes at the same time as Sylvan Beach Amusement Park, which he also operates, has delayed its opening twice.

Waterbury insists the park will open July 4.

For that to happen, Waterbury must provide village officials with the required insurance certificate for the piece of the park he leases from the village. Sylvan Beach Mayor Greg Horan said the village needs that insurance before he can operate several of the kiddie rides and the miniature golf park.

Waterbury said the Yesterday's Royal restaurant will not open as it needs structural work done.

"I think he's really got some challenges ahead,'' Horan said, "but we are optimistic he will open. It's just that his window to get it ready is shrinking."

A Sylvan Beach arcade run by Susan Carello has continued to operate.