Up to 100,000 euro is to be invested in an event hosted in Queen Maeve Square on the May Bank Holiday weekend.
It's thought that work in the square, which was formerly Stephen Street car park, should be completed in time for the weekend around St Patrick's Day.
The event taking place on the May Bank Holiday weekend is expected to be a Sligo-themed event, similar to annual events run in Mayo and Donegal.
Speaking to Ocean FM News, Fine Gael Councillor, Thomas Walsh believes that there's no reason why the event won't be a success.