The first edition of New Orleans’s Prospect biennial delighted art fans from Nov. 2008 to Jan. 2009 with dozens of art exhibitions around the city. Those fans will have to wait a bit longer for its sequel, following the announcement from Prospect founder Dan Cameron that it has been delayed to Nov. 2011.

Cameron says that more time is needed to procure funding for the project, which is set to cost $3 million and include 62 artists. Those numbers were decreases from the exhibition’s first edition, which included 81 artists at a cost of $4.5 million, making it the largest contemporary art exhibition in the history of the United States. Organizers say that an estimated 42,000 visited the first edition, generating $23 million in economic activity for the beleaguered city.

The first edition of the fair is said to have gone over budget, with debts totaling $25,000 as of April. 2009. “We’re not able to realize our fund-raising goals in the timetable set,” Cameron told the Times Picayune, and stated, “2009 was a really bad year for fund-raising and 2010 didn’t look much better.”

Read more at the Times Picayune.