Cedar Rapids closes books on 2012 RAGBRAI celebration - KWWL - Eastern Iowa Breaking News, Weather, Closings

Cedar Rapids closes books on 2012 RAGBRAI celebration

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CEDAR RAPIDS (KWWL) -

The Cedar Rapids City Council has closed the books on last summer's RAGBRAI celebration.

Cedar Rapids hosted the 40th Anniversary Party on the Island and overnight stop during last year's ride.

To fund the party the city loaned organizers $60,000 from the city's Hotel/Motel Fund.

The goal was to turn a profit during the celebrations and have the RAGBRAI committee pay the funds back 

The party didn't raise enough money and the planning committee found they were $24,149.34 short.

Tuesday the Cedar Rapids City Council decided not the have the RAGBRAI Cedar Rapids Committee, in care of the Cedar Rapids Area Convention and Visitors Bureau, reimburse the amount lost during RAGBRAI.

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