City staff are recommending council choose to go big or take a more modest — and less expensive — approach to mark Canada’s 150 birthday.

The year “2017 will be an important milestone in our nation's history and as Canada's largest and most diverse city, Toronto should plan to celebrate with some fanfare,” says a staff report included on next week’s economic development committee agenda.

Two options are outlined.

The first proposes a major New Year’s Eve bash on Dec. 31, 2016, a 10-day summer festival in 2017 at Nathan Phillips Square, and a community heritage program and special exhibitions. In addition, the report recommends enhancing existing city programs, such as Doors Open and Nuit Blanche.

The second is a more complex, expensive and “meaningful” resident-led option that would be a major citywide, cross-divisional initiative. It would be developed and produced as a “TO Canada150 Celebration Program,” the report says.

It proposes staging the three events included in the first option as well as expanded programming across the city. A secretariat, reporting to the deputy city manager’s office, would lead the planning based on the template of the Pan Am Games showcase program this past summer, the report says.

Council is being asked to make a decision “regarding the order of magnitude” for sesquicentennial celebrations by February 2016 “or it will simply be too late to execute any significant programs.”

The cost will depend on the scope and scale chosen by council. The report estimates the price tag could run between $5.5 million — for the first option — to $15 million for the second, not including any outside funding.

Staff are also asking council to direct the city manager to pursue funding from the federal and provincial governments and pursue private funding and sponsorships.

July 1, 2017 is the 150th anniversary of Confederation. The Constitution Act of 1867 gave birth to Canada on July 1 of that year.