Taste of Chicago may continue losing money: Officials - Chicago News and Weather | FOX 32 News

There was a lot of hope that the new, cheaper Taste of Chicago would make money or break even. That wasn't the case.

The final figures aren't in, but city officials say the Taste this year lost money.

They told aldermen on Monday that the Taste might keep losing money in the future.

Officials hope they didn't lose more money this year than in the past.

Mayor Rahm Emanuel isn't ordering that the festival break even anymore.

The city says the Taste of Chicago will be back next year, even though the new scaled down version lost money again this summer.

The city had hoped that by cutting down the length and size of the festival it would help reduce massive security and overtime costs.

It didn't.

The city says the festival cost $6 million in 2012 and lost money.

But the Taste once made enough to fund other city festivals.