明日から収穫祭だ。 今日はその前夜祭だということで、実質、今日から収穫祭は始まっていると言っていい。
収穫祭 being the festival to which 前夜祭 refers.
Usually I find myself comfortable considering その as a rough equivalent of "that", but in this specific context it doesn't look very appropriate. If I had to guess, this その here looks more like "(Regarding) that", that being the previously mentioned festival, which makes sense to me despite this specific function not being mentioned in the kokugo jiten I own. So I wonder, how does this その work on a linguistic level?