Dublin Corporation is to place advertisements in national newspapers this week, seeking a contractor to build the "millennium spike" in O'Connell Street.
When constructed, the 120metre spike will form the centrepiece of the O'Connell Street integrated action plan, one of seven area plans designed to regenerate Dublin's inner city.
The monument, a conical spire, will be three metres in diameter at the base, rising to a 0.1 metre pointed pinnacle. It was initially expected to be in place by November 1999 but was delayed by a court challenge from objectors.
It is now expected to be completed by June of next year, almost three years after the competition to design a monument to celebrate the millennium was first announced. Initial costs were put at £3 million and are now expected to be around £4 million.
The spike, more properly called the Monument of Light, is to be made of welded, rolled stainless steel plate, the tip of which will be made of cast optical glass. The corporation says no such spike has been built before, but this was not a factor in the delays. It is confident that a builder will be found to erect the monument.
Designed by Ian Ritchie Architects of London, it will stand on the site of the former Nelson's Pillar. The plans also provide for a civic plaza around the spike and in front of the GPO, with existing pavements widened by up to 11 metres on both sides for the length of the street.
The adoption of special development zone status - a measure provided for in the Planning and Development Act 2000 - is to be used to give the corporation control over what types of business operate on the thoroughfare.
A shop-front competition with prizes of up to £10,000 is also under way.
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