Under the proposed $2.6 million plan, trees will line the street, kerbs and gutters will be removed, parking spaces will be reworked, and a stretch of the road will be made one-way and 10km/h.

Provisions will also be put in place to power kiosks and food vans, and Wi-Fi and furniture will be provided across the area.

The major works would take place along the stretch of the street between Banna Avenue and Banna Lane, where the Street Scapes festival is currently taking place.

According to Council's CBD upgrade working group, the changes would "activate the area and increase pedestrian activity and overall usage", as well as make it easier for future events and festivals to be set up along the street.

The draft concept plan was endorsed at this week's council meeting and the plan is now set to be placed on public exhibition for 28 days.

The suggestion to redevelop the street comes towards the end of the Street Scapes event which saw Kooyoo Street closed off and transformed from an ordinary thoroughfare into an urban plaza for the month of May.

At this week's council meeting, councillors Glen Andreazza, Simon Croce and John Dal Broi were full of praise for the event, describing it as a huge success.

While discussing the proposed redevelopment of Kooyoo Street, Cr Andreazza and Cr Croce suggested that the street be closed off and made into a pedestrian plaza permanently, rather than keeping the road.

"I'd actually like to see it closed off as it is - completely," Cr Andreazza said.

"Cars and children don't mix and if people would like to stop there with their families and have a rest or a wander I just think it would be safer."

"There haven't been any complainst so far about the street being closed off during Street Scapes and I would like to see it closed off permanently."

Cr Dal Broi acknowledged Cr Andreazza's suggestion and said it would be looked at as council receives submissions from the community.

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To help finance the project, council has successfully applied for a $1 million grant through the NSW Government's 'Your High Street Grant Program'.

In order to receive the grant, the project must be finished by May 2022, meaning council must commence construction on the street by November 15 this year.

Council has also applied for an additional $1 million from the Federal Government's Murray Darling Basin Economic Development Funding Program.

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