Construction for the first phase of the £21m River Ness Flood Alleviation Scheme begins this month and has been designed to protect about 800 homes and 200 businesses in the city centre.
There are two options concerning the art which could adorn the Scheme; one at £125,000 and one at £740,000, according to Highland Council.
Inverness Old Town Art (Iota) would lead the projects.
The more expensive of the two would include a new seating area, festival, river trail, a schools project and a viewing platform that would allow people to "enjoy the full span of the River Ness", according to a report.
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The second option would see the creation of the river trail, new seating area and schools project.
Creative Scotland has offered up £305,000 towards the cost of the £740,000 project and the Highland Council's City of Inverness Area Committee meeting next week will be asked to approve a £250,000 contribution. Grants would cover the rest of the cost.
The full project is set to be completed by 2015.
Highland Council released details last month on traffic diversions that will occur during the initial stages of the flood alleviation scheme.
Some streets will temporarily become one-way systems while others will have parking restrictions.
Affected areas will include Bank Street, Huntly Street and Friar's Street.
The work will include the building of walls on both sides of the river between Ness Bridge and Friar's Bridge.
(IT/GK)
