Downsized Taste of Chicago still lost money

October 23, 2012 6:41:04 AM PDT
Despite revamping Taste of Chicago, the mayor's office is reporting that the city's biggest outdoor festival is still losing money.

In 2011, the city lost $1 million on the Taste.

While the final numbers are not in for 2012, the city says it is not close to breaking even on the $6 million it spent on the free festival.