The Anchorage Community Development Association voted unanimously Thursday evening to extend its lease with Webb's Consulting and Management Services, Inc. to operate the Anchorage Market Festival for one additional season.
"Nobody on the board wanted to see the Saturday market shutdown," ACDA board chair Ted Carlson said. "But there is a process we have to go through. We have a fiduciary responsibility for all the property that the board manages."
The current agreement was set to expire Sept. 30 but the ACDA voted on the resolution that would allow the Downtown Market to operate in the ACDA's lower bowl parking lot on 3rd Avenue for one more year.
Vendors had opposed plans to turn the market into a street festival on 4th Avenue and store owners had mixed opinions about the proposal. Bill Webb the owner of lease wasn't completely happy after leaving Thursday's board meeting.
"We were hoping to leave here tonight with an extended contract for longer than a year and some assurance for our vendors," Webb said.
The ACDA board says they are waiting to see if and when the Ship Creek project will bring another market opportunity before extending the contract any further.
(This is a developing story. Checking KTUU.com and Channel 2 News for the latest)
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