WATCH LIVE

American Folks Festival to Reveal Financial Figures 

Catherine Pegram

Organizers of the American Folk Festival will reveal tonight whether the event – which has built up a mountain of debt over the years – made money last summer. They’re scheduled to present a report to city councilors on the business and economic development committee. The meeting gets underway at 5 p.m.Up to now, organizers haven’t released final financial figures for the three-day fest in August.The festival owes the city $300,000 for previous events.Last February, organizers signed an agreement to eliminate that debt over a 10-year period.The city’s finance director says that first $30,000 payment has already been paid. It was turned in, in mid-October, two weeks before it was due.