It has been reported this morning by CBS2 that Go Cedar Rapids, the city's travel and tourism bureau will cease operations as of Monday, October 15.

The organization has been the source of scrutiny after reports of a $2.3 million debt accrued from this summer's "New Bo Evolve" festival, and inabilities to pay back vendors after the event, which saw two of its leaders, Scott Tallman and Aaron McCreight get fired.

The City of Cedar Rapids will take over travel, tourism and and convention operations of the private, non-profit organization. The city has provided the funding for GoCedar Rapids through hotel and motel tax revenue.

NewBo Evolve featured major concerts with Kelly Clarkson and Maroon 5, as well as speakers like olympian Adam Rippon, television host Carson Kressly and more. The event seemed doomed from the start and the writing was on the wall for the organization's future as the dominoes started to fall after its failure.

We will keep you updated here on further developments to this story.

[Via CBS2]