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PHOENIX -- Community leaders met with the city of Phoenix Monday to map out plans to keep the Veterans Day Parade afloat.

According to a release, Mayor Greg Stanton explained that the parade in 2013 will be supported by Phoenix, which will partner with the event's nonprofit Honoring Arizona Veterans.

"I am pleased to be able to say there will be a 2013 Phoenix Veterans Day Parade," Stanton said. "Veterans are the pride of our community; they risked their lives for us. This parade is a Phoenix tradition to show our gratitude for our service men and women. I can't imagine Veterans Day in our city without a show of thanks in this parade for our troops."

The Veterans Affairs Department recently pulled the plug on sponsoring the parade because of "budget and liability issues."

Former Maricopa County Attorney Rick Romley is a Vietnam veteran and said returning troops were not always honored for their service.

"Being a Vietnam veteran I remember a time when we were not honored or recognized. This parade is extraordinarily important to veterans to take one day and have the community honor the service of so many involved in conflicts in so many eras."

Phoenix leaders said sponsorship of the parade will cost the city about $85,000.

Jim Cross, Reporter

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