COLORADO SPRINGS, Colo. -

The president of the Balloon Classic said Wednesday her team is all set for the event for this weekend.

The 38th annual Balloon Classic will be hosted at Memorial Park this weekend. The president of the event, Patsy Buchwald, said equipment will start arriving in the park on Thursday and barricades will arrive on Friday.

Buchwald had announced previously that this will be the last year for the Balloon Classic in Colorado Springs.

"We are both sad and excited that this is our last year in Colorado Springs. It's been a difficult decision to make," said Buchwald. 

She does not know where the classic will go after this year.

"We can't tell you because we don't know yet but we can tell you the finale in Colorado Springs is going to be gorgeous," said Buchwald.

El Paso County spokesperson Dave Rose said county commissioners have been speaking with Balloon Classic organizers about potential spots in the county to host the event.

The county recently purchased Falcon Regional Park. It's suggested that as a possible site for future events.

"We never ever think we have exhausted all our options over here.  It's not in our DNA. We are prone to think there must some way. So we don't think we have exhausted all our options and we do think more conversations can be had about Falcon Regional Park," said Rose.

Nolan Schuler is excited to fly again in this event.  However, it's bittersweet.

"The sad part is the people are going to be the ones that lose. As pilots we will go and fly elsewhere. The ones in Colorado Springs are going to lose the most," said Schuler.

He has his balloon packed in his trailer and T-shirts made for his crew. He attended the Balloon Classic in 1998 and fell in love with hot air balloons. He purchased a balloon in 2008 and participated in the Balloon Classic in the air since 2010.

"The return is far more than the money we put into it because the smiles that we put on everybody's face. I always say it makes a kid out of everyone when you get to go flying and that is just invaluable to me," said Schuler.