He asked if a focus group could be established to look at the possibility.
In response, Deputy CEO of Waterford City & County Council Lar Power said the Tall Ships Festival was “obviously a great event” when staged in Waterford.
However, he pointed out that the cost of hosting the event in 2011 was €4.9m.
“I accept that there is a good payback, and particularly a good marketing payback, but €4.9m is a lot of money and it cost this authority €2.9m of the €4.9m,” he said.
“We don’t have the financial means to do it at the moment but it would be a nice thing to do in the future,” he added.
Cllr Cha O’Neill (Ind) reminded Mr Power that “the last time the Tall Ships were here we didn’t have the money either”.
“But we got it from some place and that’s why it was such a success,” he said.
Cllr O’Neill suggested that the partnerships which have been developed with Kilkenny and Wexford as part of the Three Sisters bid could be put to good use by hosting the Tall Ships.
“They also benefited from the Tall Ships when it was staged in Waterford,” he said. “They got just as much as we got out of it but they didn’t put as much money into it.”