Some €93,500 in EU funding has been allocated so that plans for Courtown harbour's multimillion euro marina can be drawn up.
The face of the Co Wexford seaside resort is set to be changed forever by the development of a modern marina, which will have the capacity to hold 250 boats.
Plans for the ambitious project, which is predicted to cost €5.5-€6 million, have not yet been made public, but it is understood they provide for the construction of a sheltered marina from the existing south pier of the harbour in Courtown in a northerly direction, to stretch as far as the bridge behind Flanagan's Wharf.
The plans would also see the construction of three islands off the coast, to act as breakwater barriers, while they would also help to build up the beach there.
The proposed project has been selected for funding by the European Union, under its Interreg IIIA scheme, which offers financial assistance for a wide variety of projects in regions in Wales and Ireland.
The Courtown marina project has been linked with a similar project in Aberdyfi in Wales, with both locations to benefit from EU assistance, in an effort to sustain tourism and marine infrastructure.
Cross-border links were formed to improve berthing facilities for visiting and residential vessels.
Minister of State for the Marine John Browne will present the funding to the Courtown Marina Committee, a sub- committee of the Courtown Community Council, next Monday.
The Interreg IIIA programme is aimed at promoting "a harmonious, balanced and sustainable development of economic activities" throughout the European Union.
It takes into consideration the sustainable development strategy for Ireland, as well as the commitment by the National Assembly for Wales to promote sustainable development.