The council's planning policy group leader, Jerry Youle, confirmed that a feasibility study for the plan has been completed and a contract was likely to be issued imminently.
The scheme - which in its original form was thought by many to be impractical - will be taken ahead, albeit in a much more conservative fashion than was originally intended.
Youle added that a system of laser and lights would be used to illuminate the sky above the city centre at Christmas, in a style similar to that already seen around London's Oxford Street.
However, he added that the council would have to navigate through a minefield of public consultation in order not to affect local residents through light pollution.
Youle concluded: 'It's likely to be something switched on for a few hours at a time.'