Lowedges Community Festival will go ahead on Sunday August 14 from 12-5pm at Greenhill Park.
Secretary Stephen Rich said: “This is fantastic news. After many months of fundraising we are now in the great position to offer stalls to the trade and public after three years of closure.
"We would like to thank all those who helped us get to the amount needed for the event to go ahead.”
Stephen highlight the support of members of the public, MP Louise Haigh and Couns Richard Shaw, Simon Clement-Jones and Sophie Thornton along with the White Hart Inn and festival committee.
The £20,000 target was reached through sources including grants from local councillors, Sheffield Council and help from Louise Haigh. A £10,000 contribution also came from the National Lottery's Award for All community fund.
Stephen said the reason why such a large financial target was required, was because the festival is a free event with all rides and attractions also free.
He believes the hardest part for families attending an event with funfairs and child amusements is the cost.
“We offer free rides for children, the fairground rides, and we’ve done that because, if you ask most families, working or not working, they will say that when they go to a festival the worst thing that they dread is going through that gate and seeing a small funfair.
“It cost a fortune, they want to go on hook a duck, the climbing wall, the bungee jump at £5 a go, and things like that.
“Parents can’t afford to say yes, yes, yes, even for those that are working, it can add up.
“So we give free entry, we try to get some of the fairground rides, the bungee jump at £5, which children are told no, and the little rides for nothing,” said Stephen.
Louise Haigh said: “It’s such a credit to the amazing volunteers in Lowedges who have worked tirelessly on the festival over so many years that they've raised the funds to get it back on his feet after Covid.
“It's been such a privilege to work alongside people who are so dedicated to improving and promoting their community.
“The festival is a great asset for Lowedges and Sheffield and attracts visitors from across the city.
“I know that this year will be bigger and better than ever before.”
This year’s event will include Sheffield’s biggest classic car show; free funfair rides; a fun dog show; a dance arena; and a 125ft marquee with live reggae bands including Sheffield's top Reggae and Ska band PJs One Drop.
There will also be 100 stalls which must be pre-booked, a large car boot sale, a farmers’ market, hot food and arts and crafts.
To secure a stall email [email protected]