Work could start next month on Forge Island but the council has been asked to pay upfront costs.
Preparation work including the creation of flood mitigation measures has been completed at the site.
But private investors were unable to provide as much money for the project as initially planned, according to theRotherham Metropolitan Borough Council will discuss plans to take over the costs at a meeting on 17 October.Ms Lelliott, cabinet member for the economy, said Forge Island is a "flagship development" and it was "exciting news" that construction work could begin within weeks.
But she said: "It's become clear in recent months that volatility in the financial markets is making private financing of Forge Island less viable and would lead to further delays. "By incorporating the scheme into the council's capital programme, we can have contractors on site within weeks and begin to realise a commercial benefit for taxpayers directly and much sooner."Conservative councillor Greg Reynolds asked a meeting why the project had taken so long and said: "I suspect that now it's too late, young people stream their media, people don't go to the cinema any more.
Another Conservative councillor, Charlie Wooding, said he feared economic conditions would "continue to decline" and that this would have an impact on whether commercial properties could be leased out.Follow BBC Yorkshire on
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