The board of Galway 2020 will meet today to discuss the project, which is in great difficulty due to the global coronavirus pandemic.
Galway City Council has already decided to refuse an additional €2.5 million in funding to expand the project.
Following this decision, councillors were asked to meet with the board of Galway 2020 individually.
This morning, Cllr. Pauline O’Reilly said: “It is hugely disappointing to see the project in difficulty, however a continuing funding stream is in place which eats in to public money.
“Given that I, and many of my colleagues, are calling for a moratorium on commercial rates, the city simply cannot afford to continue to pay for a project that will not go ahead.
“We need to ensure that local groups are not out of pocket, but all other financing must be reversed.
“One option is that it is delayed until 2021, and that is a request that would need to be made of Europe.”