Cyclepalooza is a 10-day bike festival throughout the city with tons of great events for all ages and skill levels. It on now until July 2nd.
Some of my favorite events include a toga wearing (which can't be comfortable on a bike), caesar drinking ride to Wurst, a brewery tour from Village Brewery to Wild Rose (are you sensing a theme here?), and the East Village Glow and Show where you ride at night with glow-sticks to the East Village to watch an outdoor movie (The Goonies!!) on the side of the old Simmons factory.
For a full schedule of events, check out the Cyclepalooza website. Calgary is so much fun in the summer!