BELFAST councillors unhappy at the manner in which their DUP and Sinn Féin colleagues backed plans to allocate £4m to projects in the east and the west of the city may challenge the move.
The Irish News reported on Saturday how the reallocation of money under the City Centre Social Outcomes Fund had been branded "a political carve-up".
The DUP and Sinn Féin last week supported proposals to share the money among nine projects, including a James Connolly Interpretive Centre on the Falls Road and a 'social economy training hotel' in the Shankill area.
The two parties insist the funding will boost tourism and complement the city's 'rapid transit' links.
But south Belfast Alliance councillor Emmet McDonough-Brown has complained that there has been "complete lack of transparency" around the process.
Mr McDonough-Brown likened the dearth of information to controversy around Stormont's £80 million Strategic Investment Fund (SIF).
He said there was nothing wrong with the projects that would benefit but he was unhappy that there was no opportunity to scrutinise the allocation of funds.
"Public money must be spent properly and the appearance of these projects in this way gives me no confidence that we committed this money fairly," he told The Irish News.
SDLP councillor Tim Attwood has also voiced concerns.
"I have no issue with the projects but the process needs to be open and transparent," he said.
"There is a question mark about who decided which projects were brought forward and why."
The Irish News understands that councillors unhappy with the allocations may seek to have it 'called in' on the basis that it has a disproportionately adverse impact on a particular community.
The funding has yet to approved and will be discussed at a full council meeting next week.
