McGazzaFest 2017, a three-day event, will include the official launch of the foundation, a memorial ``mega train'' and the unveiling of a plaque and picnic table at the spot where he died.
Kelly McGarry, known within the biking community as McGazza, died from a heart arrhythmia while riding Fernhill trail in February last year.
Foundation chairman Fraser Gordon said it would also be an opportunity to announce the foundation's plans to build a mountain bike trail and hut in the back country. The income from hut fees would be used to fund grants and donations.
The aim is to future-proof the trust, allowing it to support grants once or twice a year. The focus would be on biking infrastructure rather than individual donations.
``Basically any mountain bike organisation or club within New Zealand [would be eligible]. If they have a plan to build any type of trail, they can apply for a grant through the foundation and we can divvy up grants that way,'' Mr Gordon said.
Friend Tom Hey told the Otago Daily Times McGarry's friends wanted to do something ``cool'' to celebrate his life near the anniversary.
The festival starts on Friday night with the McGazza memorial mega train down the Queenstown Bike Park trails and through central Queenstown to Atlas bar. There, McGarry's reconditioned bike, the one on which he completed his most famous backflip over a 22m canyon at the 2013 Red Bull Rampage, will be revealed.
On Saturday, the Fernhill Loop group ride and memorial unveiling will take place at the top of the trail where McGarry died. A jump jam is also planned for Saturday afternoon, followed by the official launch party.
The festival will wrap up on Sunday with a session at Queenstown Mountain Bike Club's Gorge Rd Jump Park.
