BOSTON (CBS) – First Night Boston, a decades-old tradition, is coming to an end.
The Board of Directors announced Thursday night that they are shutting down because they do not currently have the funds to continue planning First Night Boston 2014, which would take place on December 31, 2013.
WBZ NewsRadio 1030′s Carl Stevens reports
The organization has produced 37 First Night festivals.
The entire staff of the non-profit group will be laid off and the downtown offices will close on June 30. The Board cites declining foundation and sponsorship dollars as the main reason First Night would not be able to raise the funds necessary to produce this year’s event.
The Board hopes to transfer the First Night Boston trademark to the city. Mayor Menino confirmed to WBZ NewsRadio 1030 that the show will go on.
“I brought my team together and said we have to have a First Night in Boston no matter what, and we will have a First Night in Boston no matter what,” Menino said.
In a press release, the group says it “plans to work with the city to identify an organization that can assume the First Night brand and eventually produce an event containing at least some of the elements of a First Night celebration.”
Menino says a number of organizations and individuals have already come forward expressing interest in helping to pay for the event.
According to a recent study, First Night generates about $28 million in revenue for Boston.