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Calgary city council will decide Wednesday whether a last-minute revamping of financial terms is enough to save a potential bid for the 2026 Winter Olympic and Paralympic Games.

A bid seemed destined for the dustbin after Tuesday’s meeting of the city’s Olympic assessment committee.

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Coun. Evan Woolley, who chaired the committee, brought forth motions to kill the bid and cancel a Nov. 13 plebiscite asking Calgarians if they want the Games or not.

Those motions were referred to Wednesday’s council meeting.

Woolley said the provincial and federal governments and the city could not come to a cost-sharing agreement on the $3-billion public investment asked for by the bid corporation Calgary 2026, which had estimated the total cost of hosting the Games at $5.2 billion.

“The gap is too large,” Woolley said.

But Calgary 2026 announced Tuesday night that an agreement was reached between the federal and provincial governments to consider a new funding proposal.