The head of Greek Town in BIA is hopeful that the "Taste of Danforth" festival will be held in 2024 but has stated that the cost of this endeavor will not be solely borne by local businesses.

Mary Fragdakis, speaking at the annual BIA public meeting on Wednesday, mentioned that small businesses cannot bear the financial burden of organizing a festival in the city of Toronto, including a significant increase in property taxes.

Fragdakis said, "Given all the challenges that many small businesses are facing, such as repaying CEBA loans until the third week of January and the rising cost of labor, our members have stated that they do not welcome a substantial increase in taxes."

After the cancellation of this event in 2020 and 2021 due to COVID restrictions, it has been decided that the 2022 event will also be canceled due to "logistical issues."

Considering the increased participation of over 100 businesses in the popular Toronto street festival in 2023, BIA announced that the festival incurred a loss of $257,000.

The responsibility for organizing street festivals lies with local BIAs, indicating that other street festivals around the city may also face similar challenges.

Fragdakis stated that if the festival is to be held in 2024, significant financial support and assistance from the government are required.

She added, "This is an expensive event, and we are exploring other options to see if someone will come forward as a sponsor or angel to rescue this event or not."

The City of Toronto, in a statement, acknowledged awareness of the approved budget for BIA in 2024 and expressed support for the continuation of this event if capital is secured externally.

news source