I feel vendors and performers at newbo evolve should be paid. Although engaged by GO Cedar Rapids, independent from the city, it was natural to consider this was a Cedar Rapids city festival, not realizing the technical separation. Failure to be paid according to their contract reflects badly on our city, and will adversely affect obtaining participation in future festivals.
The $1.5 million owed to a bank is a risk every bank researches and accepts before granting the loan. Judging risk is their business and their supposed expertise. Vendors and performers don’t normally consider the risk of not being paid.
I believe the city of Cedar Rapids should pay directly, not through GO Cedar Rapids, the $800,000 that is owed to vendors — thus avoiding the bank debt. Although not legally but morally, this payment would address the city’s reputation loss from this fiasco.