Described as a 'strategic community partnership', the proposal also includes another $25,000 every second year for five years, dependent on gaining increased audiences at the event.

Ballarat councillors will vote on the deal at council’s ordinary meeting on Wednesday night.

Foto Biennale CEO Fiona Sweet said a new deal would ensure that the BIFB can continue to attract large numbers of tourists to Ballarat. 

“In 2017, we had more than 26,800 people in our streets and laneways. Most were tourists from Melbourne who ate and drank at local cafes, shopped in our streets and stayed in our hotels," Ms Sweet said.

The Ballarat International Foto Biennale, established in 2005, is a not-for-profit event with 98 per cent of exhibitions free to all audiences. 

“This year we have incredibly exciting headline artist lined up, three cash photographic prizes, a major Indigenous photographic exhibition, over 200 artists exhibiting, a year-round education program for all ages, community programs throughout our region and some incredible surprises planned for our audiences," Fiona Sweet says.

“This year we have an even bigger education and community engagement program, and most importantly we have “Ballarat” in our name. We are here to stay and have continued to support Ballarat since 2009."

The 2017 festival contributed more than $3.89 million to the Ballarat economy, Ms Sweet says. She hopes to increase the contribution in 2019 as the festival moves to a 60-day festival, which opens in August this year. 

Ms Sweet said council’s support would ensure the festival could continue to push creative programming and attract greater audiences.

“We have hundreds of volunteers, local artists and traders who rely on the City of Ballarat to support this festival and ensure its growth in tourism and its incredible impact on Ballarat and its residents," Ms Sweet said.

“The BIFB is a proven and successful festival that sits well with the Draft Creative City Strategy,” deputy chair of the biennale Brigid Moloney said. 

“The Board is really committed to flying the Ballarat flag  to a domestic and International audience. 

“We are now a member of the International Association of Biennale, which puts us at the table with major players such as Venice Biennale, the Sydney Biennale and Liverpool Biennale. 

“These are major festivals that attract hundreds of thousands of visitors.

“We can see how BIFB and the newly-named National Centre For Photography in Lydiard Street dovetails beautifully with the Draft Creative City Strategy and we are excited to help Ballarat earn the title of regional arts capital of Australia.”

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