A pot of £100,000 has been put forward by Harrogate Borough Council to acquire a business case to re-develop part of Harrogate Convention Centre.
The budget was put out to tender by the council for production of plans and how it could be delivered at the King's Road site.
Leader of HBC, Coun Richard Cooper has said the move was to 'future proof' the centre's place within the conference and exhibition sector.
He said: "We are future proofing the convention centre so as trends within exhibitions and conferences develop we do not lose out. This is about making Harrogate the most attractive venue for exhibitions and conferences."
He added: "Although it might seem like a large amount the convention centre brings in £60 million a year, we are making sure that money keeps on ringing through the tills of the town's hotels, restaurants and other businesses. To keep this in place makes good and sound sense."
Bidding for the funds closes on November 13. The tender follows calls for a review of the centre by Harrogate Borough Council, with the creation of a potential 'events complex' suggested.