The clock is ticking on CN Rail's final offer to the city regarding the James Street Swing Bridge.
The company has given a deadline of 5 p.m. Tuesday to respond and city council will meet behind closed doors Monday evening to discuss their next move.
City Manager Tim Commisso says they have at least four options, but won't disclose what they include.
CN has offered to pay 50 percent of the cost to improve the rail infrastructure to accommodate road traffic.
It's believed the work could be completed for less than $3 million.
But the proposal calls for the city to release CN from its obligations under the 1906 agreement. The city believes its on solid legal ground with the agreement that the rail company has to maintain the bridge in perpetuity.
Monday night, Council will also look at the future of the Fort William Gardens.
A report recommends operating and managing the facility under the existing model until a final decision has been made on the proposed Event Centre.