Councillors are due to discuss outlining the planned appointment of a Scottish Charitable Incorporated Organisation (SCIO) to front the project at a meeting on Thursday, 30 June.
With the support of benefactor Norman Springford, proposals include new landscaping, visitor facilities and a refurbished Ross Fountain.
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The SCIO is due to launch a design competition for the site and if approved, work could begin by 2020.
Council Leader Andrew Burns said: "While the Ross Bandstand remains a key venue for the city's famous Festival Fireworks and Hogmanay Concert in the Gardens, it is more than 80 years old and is nearing the end of its useful life.
"By working in partnership with a SCIO, we hope to be able to work towards the creation of a new facility as part of major renewal of the Gardens. The area is Common Good land and we are well aware of the implications of building in public parks, so while there is still much work to be done, we are making a commitment to supporting and progressing plans."
(LM/JP)
