Fate of Vancouver Folk Music Festival set to be decided Wednesday night

The fate of the Vancouver Folk Music Festival is expected to be decided Wednesday night.

Members of the the society that operates the event are holding their annual general meeting, where a resolution to keep the event alive is slated for a vote.

In January, the event’s board of directors said it was cancelling the 2023 festival and planning to permanently wind down the society amid what it said was an unworkable financial position.

0:37 New push to save Vancouver Folk Festival

The board said rising, new financing issues and vendors demanding up-front payment meant the festival would need about $500,000 ahead of time every year to pull the event off.

Last month, the provincial government announced $30 million in funding to support fairs, events and festivals, with grants of up to $250,000, offering a potential lifeline for the event.

“There is now some hope for us and we are very thankful to the government,’ Vancouver Folk Music Festival board president Mark Zuberbuhler said at the time.

“This makes it possible for us — maybe we can now put on an event for 2023. It’s not the complete answer but it gives a lot of hope.

The festival, which has operated since 1978, also saw a groundswell of support from community members who vowed to fight to keep it alive.

Last month, more than 300 people turned out for a virtual town hall meeting with many calling on the board to find a way forward.