The Monrovia City Council struck a deal with Family Festival Productions last week and agreed to forgive the company of nearly $60,000 in franchise fees in exchange for hosting more frequent farmers markets in Old Town.
The company will operate farmers markets on Wednesdays and Sundays in addition to the Friday Family Festival. In exchange, the city will waive future franchise payments, Monrovia spokeswoman Jennifer McClain said.
Additionally, the city will work with Family Festival Productions to calculate "verifiable costs to serve as a credit against past due and future franchise fees," according to the minutes of the council meeting. Citing financial hardship, the company has asked the city to forgive $19,025 in past-due franchise payments and about $38,075 in future franchise payments.
With Councilman Tom Adams recusing himself, the council voted 3-0 to waive past due and future franchise fees and allow the company to operate the two additional farmers at cost in lieu of the payments.