GLENDALE (CBS) — The city of Glendale announced on Thursday plans to enter a float in next year’s Rose Parade despite warnings of missing the parade for the first time in nearly a century.

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Mayor Laura Friedman said donations from both businesses and residents topping more than $89,000 will be enough to cover the cost of building and entering a float in the annual parade for the 99th straight year.

“This is a wonderful testament by business owners, residents and our own employees to the traditions that are valued jewels in our city,” Mayor Laura Friedman said. “Thanks to the generosity of the community, the Glendale Rose float will see its 99th year.”

City officials had announced earlier that the parade float would be scrapped this year due to a roughly $18 million budget deficit.

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But developer Rick Caruso last week announced a $25,000 donation toward the cause, and challenged other businesses and residents to match the donation. That prompted Sam and Suzanna Solokyan, owners of Global Holdings Inc., to donate $25,000.

On Wednesday night, Tri-City Systems Inc./G&S Transit Management announced a $25,000 donation, while the Glendale Management Association donated $5,000. Combined with donations from the public, the float fund is now at $89,521, according to the city.

Friedman noted that the donations will get the city through this year, but a challenge still awaits next year, when the city will look to have a float for the 100th time. But she expressed confidence “there will be enough support to get us to the century mark and beyond.”

Officials said they are still collecting donations, and any excess funds would be applied toward next year’s float.

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