Already £5 million has been set aside for new affordable homes to hep tackled the city’s housing crisis.
And a series of transport projects have been proposed for funding from the new Visitor Levy, including the revamp of George Street.
The latest batch of proposals focuses on Edinburgh arts and cultural sector, with plans for new funds to give more opportunities to existing organisations and encourage new ventures.
Culture and communities convener Margaret Graham said the levy - which comes into effect in July - offered the Capital “vast” opportunities.
She said: “Edinburgh is such a tourist destination, with a reputation throughout the world. This is going to give us an amazing opportunity to keep it in the forefront.
“We are all quite aware there are lots of cities in the UK that would love to be us, so we have got to make sure we stand out and we continue to be in the forefront of innovation with regard to culture.
“The amount of extra money this is going to bring in - it could be as much as £50m a year by the end of the decade - is incredible, so it's very important we spend that money sensibly.”
The culture and communities committee will debate the latest proposals on Wednesday, February 11, before the full council makes the final decision at a special meeting the following day.
Here are some details of what the council is planning on the arts and culture side, including funding to help complete high-profile major projects like the new National Centre for Music at the old Royal High School and potentially reviving the Festival Cavalcade and Fireworks Concert.
13. Water of Leith
A £500,000 a year fund is proposed for the Water of Leith Conservation Trust to match and deliver improvements at the Water of Leith on areas such as the Visitor Centre, the Dean Valley and pathway improvements. | Canva/Getty Images
14. Edinburgh's key cultural organisations
The council wants to use £4m of Visitor Levy money to boost funding for its "strategic partners" - key organisations ranging from the Edinburgh Festival Fringe to the Royal Lyceum to North Edinburgh Arts. It notes that funding has remained static for the past 10 years and says the new money would give them more stability and help them increase and diversify activity. | TSPL Photo: Lisa Ferguson
15. Tour de France
The Grand Depart of the 1927 Tour de France will take place in Edinburgh and the council has already committed £1.7m towards the costs. It now proposes the money should come form a new £3.5m Events Investment Fund, although it stresses the fund is not intended to attract a major one-off event every year. "Rather, this fund can support existing and new events developed in Edinburgh and fund major events over a number of financial years." It also envisages events taking place "beyond peak seasons" and "beyond the city centre". | Bruce Rollinson
16. Public art marking Edinburgh's slavery links
A contemporary public artwork to mark Edinburgh's historic links with slavery could be funded using money from the Visitor Levy. There has been much controversy in recent years over the Melville monument in St Andrew Square, commemorating Henry Dundas, who is accused of delaying the end of the slave trade. And the Edinburgh Slavery and Colonialism Legacy Review in 2022 recommended a new artwork in a central public space. The council says: "Bringing this artwork to fruition is a critical step to translating the review's recommendations into meaningful action and contributing to the city’s public art estate." Photo: Lisa Ferguson