''Rest assured, once this is over the project will be under way,'' he said at a pop-up shop to get public feedback on the design options this week.
Mr Cadogan said the town had done itself ''a disservice'' allowing its centre to become run down.
''It's time to do something about it.''
The Clutha District Council last year identified Clyde St, the Memorial Hall area, John St, Elizabeth St, the Rosebank shopping area and the Catlins turn-off as priorities.
The council originally set a budget of $2.6 million for the project, but new estimates put the total project cost at $3.1 million to $3.4 million, depending on which option is chosen.
Senior roading asset engineer Geoff Young said consultation for the project would end on July 3.
The feedback would be analysed, then a recommendation would go to the council's district assets committee on July 31.
From there it would go to a full council meeting on August 14 for a final decision.
Mr Cadogan said the idea had been discussed, and money had been spent on it, since before amalgamation of councils in 1989.
The feedback from the pop-up shop and a meeting afterwards of about 30 people at the Balclutha Memorial Hall had been ''varied''.
''It's up to every councillor involved on the day to make their own assumptions'' from what they had heard, he said.
Mr Cadogan said he did not have a preferred option.
''The only thing I'm really determined on is that it's happening.''
The final option still required detailed design, but the project would be under way early in 2015.
He said the project was important for the town, both because it would change how visitors perceived it, and how the town perceived itself.
''It would be nice to have a main street we can be proud of.''
Council district assets manager Jules Witt said the bulk of the work would be funded by loans, and the majority of the cost borne by Balclutha residents.
At the pop-up shop, residents told Mr Cadogan their thoughts on the issue.
Marilyn Dunn was keen to see a plan for camper van parking and a dump station on Charles St go ahead.
Camper van visitors should be encouraged to stay overnight.
''I want [their] money spent in my town,'' she said.
The options
Option A
John St-Clyde St intersection as the ''heart'' of the town and central business area.
Entry-only T-intersection allowing greater level of pedestrian shared space.
Could include: large paved open space; public seating; tables; shaded spaces; street trees and raised planters; landscape features and lighting; one-way access into John St, which can be closed off for events.
Estimated cost $3.1 million.
Option B
Council-owned section on the corner of Elizabeth and Clyde Sts becomes focal point of town.
Could include garden feature: green wall or community mural; large paved area for community events; vertical timber posts; raised garden beds and public seating.
Minimal conflict with vehicle patterns, and includes improvements to John St-Clyde St intersection.
Estimated cost $3.2 million.
Option C
Combination of both options.
Estimated cost $3.4 million.
*All options include upgrades of Clyde St, Memorial Hall, Rosebank shopping area, Catlins turnoff, and undergrounding of power lines.
