Go Cedar Rapids receives funds for flood celebration

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Next Summer, Go Cedar Rapids will hold a signature event near the river, but they are asking the City of Cedar Rapids for some financial help.

So far, the tourism company has received $250,000 from the city's hotel-motel tax fund.

Now they are receiving an additional $250,000 from the city which puts it at half million dollars to put on this major event.

Event organizers tell CBS 2/ FOX 28 News the upfront money will help book performers and vendors.

The money will also cover a zip line in the area that will cross from the Newbo area to Czech village. The zip line will remain a fixture from May to August 2018 for one summer.

"The breadth of the festival itself it's going to be something. Again the size and scoop which has never been attempted," explains Go Cedar Rapids President and CEO Aaron McCreight.

"Just be excited be ready because this is going to be an amazing event."

McCreight said Go Cedar Rapids turned to the city for a cash advance because the company did not have the funds to cover event costs in the time frame.

Go Cedar Rapids is scheduled to pay the city back September 1, 2018. The event is expected to take place in the first week of August.

The company will release more details about the 'signature event' after Thanksgiving.

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