The decision to cancel the event comes as town officials prepare for significant sales tax and other revenue decreases as residents continue to stay home due to the virus. Early projections show that the town is expected to lose about $2.8 million in revenue during the current fiscal year, according to officials.
“We’re disappointed we will not be able to host Independence Fest this year,” Town Manager Jimmy Stathatos said in a statement. “Every year, I look forward to seeing the community come together to celebrate July Fourth. However, due to the uncertainty of the COVID-19 situation in Texas at the moment and how long it will affect large events, we need to make the call now in order to recuperate as much of our costs associated with hosting it as possible.”
The event’s cancellation will save the town more than $220,000, according to the announcement.
“We do have some good news, the Town was able to re-book this year’s headliner, the Josh Abbott Band for 2021 without penalty and all of our Independence Fest suppliers, vendors, and musical acts have been very understanding and flexible,” Parks and Recreation Director Chuck Jennings said in a statement. “We look forward to holding the biggest and best Independence Fest Flower Mound has ever seen in 2021.”