The City of London is being asked to invest $16.7 million towards a performing arts centre and while the mayor pressed the committee to send a strong message of support Monday, the committee recommends a more cautious approach.

The $164 million project envisions an expansion and renovation to the Grand Theatre, as well as a new performance hall and two residential towers built on the site of Centennial Hall and a neighbouring parking lot.

Mayor Joe Fontana pressed the committee to endorse the project in principal, pending the results of a more detailed business plan.

In the end the committee stopped short of endorsing the plan, instead recommending staff come back in two weeks with a proposal to hire an outside consultant that would then prepare a detailed financial business plan.

City staff want to hire a leading consulting firm with experience in similar developments to prepare that business plan, that answers many of the outstanding questions surrounding the development.