Kilkenny county council are to consider the offer of a loan to help develop the Brewery site in the city.
The Ireland Strategic Investment Fund has signalled its interest in a joint venture with the council.
The council agreed to buy the site in 2012 when the Smithwicks brewery closed and they will take ownership of it this Summer.
Now members of the council will have to decide if a multi-million euro investment offer to help fund its redevelopment should be accepted.