By Chelsea Karnash

PHILADELPHIA (CBS) – Jazz aficionados won’t be happy to hear this: The Ogontz Avenue Revitalization Corporation (OARC) has announced that it will not host the annual West Oak Lane Jazz & Arts Festival this year.

The annual three-day event, which attracted up to a half-million people and was meant to draw Delaware Valley families and businesses to the decaying residential area, has been scrapped in favor of a new arts and culture series that will promote regional artists and musicians throughout the year.

OARC released a statement that read, in part, “OARC plans to create opportunities to display local talent, local artists, and local entertainers, in various venues throughout the year. We are proud of what has been accomplished…and will continue the OARC mission of revitalization by creating events that have the same meaningful purpose as the West Oak Lane Jazz Festival.”

There is no explanation of why the festival was canceled.

The West Oak Lane Jazz & Arts Festival was created in 2003 and held in June. This would have been its 9th year.