The Johnson City Development Authority fought to save the sign and revealed what it would look like once it was redesigned.
The price tag for the project is $88,000.
City leaders gave the authority until June 1 to raise the cash and officials say they still lack around $6,000 to $7,000 in the fundraising effort to start the project.
City leaders are expected to address this topic Thursday evening.
Continue to follow us on News Channel 11 and ABC Tri-Cities for the very latest on the future of the downtown sign.