Interestingly, the article says that Citifest did not want to do the Rallys by the River which lose money - but that Finkbeiner wanted them during the summer, so Citifest had to host them.
And then there is this, which I think says it all:
"(Citifest board chair Brian) Epstein refuted Schwartz's claim the market has a constant revenue stream that allows it to self-sustain.
“There isn't” a revenue stream, Epstein said. “Revenues aren't covering expenses. That's how you get an operational loss. If they can't understand that, how the hell are they running the finances of the city?”"
I'd also suggest that you read my column about 'quality of life' amenities...they're the result of economic development - not the cause of it.