The project looks nothing like the original concept, designed by Ashford Architect Group, following a turbulent 18 months of abandoned designs, budget blow-outs and contentious decisions.

What is left of the $5 million NT Government grant, first announced in July 2018, has been directed to transform 50 Cent Park into a shady town square, equipped with a cafe, toilet facilities, sculptures and even a new town clock.

The plans received the go-ahead last night at the Katherine Town Council's monthly meeting.

Elected members were presented with the brand new designs - the fourth round of designs from the architects - and received showers of praise.

"We need to think about construction and we need to think about putting things into the town and change the way areas are perceived," alderman Peter Gazey said.

"The design structures are good, the lights can be controlled easily and could even address some of the issues we have had in the past about a lack of Christmas lights.

"The idea lends itself to be extended out... The shade and trees are good... It is what I wanted in the beginning."

The original bucket of money has been whittled down to about $3.5 million, with $1.5 million re-allocated to the hot springs' project, and costs for the architects coming in at almost $400,000 still to be taken into account.

Ashford Architects revealed their first design in May of last year, only to receive widespread criticism for being unaffordable and impractical as it relied on a multi-million dollar truck bypass.

Later in the meeting, the Mayor of Katherine slammed the designs saying they were "seriously flawed".

Council documents show a revised design brief from late last year, which focused heavily on Railway Terrace, was dropped because of the original intent to upgrade the town's CBD.

In response to concerns over cost Katherine Mayor, Fay Miller, assured elected members the project would be under budget.

"The CBD plan we started with was a 20 year plan," she said.

"To start with the park and develop on from there is fabulous.

"I am please to say in confidence this is under budget, I looked at it in detail today and there is a 20 per cent contingency.

"We want this to be as quick as possible, and with our new CEO (Ian Bodill) and Jake (Quinlivan from the Department of Chief Ministers Office) I am sure it will be done."

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