Algonquin Holds River Relief Benefit To Help Charitable Organizations And Those Affected By Flooding,

CHICAGO (CBS) -- Record flooding of the Fox River this summer forced the cancellation of a popular Algonquin festival. This weekend, a different event gets underway, and it's for a good cause.

For the past 57 years, the last weekend of July has been circled on the calendars of many Algonquin residents for the Founders' Days Festival.

"We usually are in the local park that's down here," said Dan Foster is President of the Founders' Days Committee. "That park was flooded really bad. We did try to go to a secondary location, but it was just not right for us to put on a fest during that time when residents were dealing with such a record flood."

But the time is finally right this weekend.

The Founders' Days Committee will host a River Relief Benefit at Riverfront Park, with a portion of the proceeds going to organizations like the American Red Cross and Salvation Army that helped out residents during the flooding.

"We can overcome whatever we need to overcome and still have a good time, show support and do good things," Foster said.

The weekend's festivities include live music, a business expo, bags tournaments, an ice cream eating contest, a bike decorating contest and more.