The Minneapolis Downtown Council has decided to stop producing large-scale events on its own, including the Holidazzle and Aquatennial, due to mounting financial pressures and the evolving needs of downtown Minneapolis.

It's part of an effort to hone in on the organization's commitments to business advocacy, economic development and public safety, Downtown Council President and CEO Adam Duininck told Bring Me The News on Monday.

But that doesn't necessarily mean downtown Minneapolis' two biggest festivals will cease to exist.

The Downtown Council wants to hand off planning and execution of Holidazzle and Aquatennial to other groups, then it plans to continue promoting and participating in the events.

"We want to continue to facilitate those things, but when it comes to our role, that's

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