This was originally brought up at the assembly by someone (I forget who, sorry!), though it was overshadowed by discussion of more flashy things. However, I've been talking with fellow business owners in the CU area and we would love to put together a sim wide cultural fair at CU. We would love to include the university itself, any other business owners here, and the greek letter organizations to participate as well.
Each interested party will pick a culture to represent and have an interactive event at their location. Usually a booth with food, pictures, games, and other interesting things to spark RP. The more interesting the better. It needs to be manned as often as possible (though obviously RL commitments will get in the way and we understand that!). The fair itself would also run an entire day (or possibly 2 if we run it over a weekend).
I'd personally also like to keep this kid friendly so parents and their kids can attend. Which can be a bit rare outside the community center.