A £600million scheme to build the world's largest freshwater aquarium in Stewartby has been refused extra financial aid by council bosses.
The company behind the Nirah Project approached Central Beds Council last week asking for money for an impending legal battle.
But the council executive was told this week that senior officers had refused the request.
A council spokesman said: "This was a reluctant decision but does not indicate that we have not lost faith in the Nirah concept.
"On the contrary, we wholly agree with the vision this would bring both economically and environmentally to the much wider community, but whilst going through this difficult economic downturn we cannot commit further public money to the Nirah project at this point."
The council was unable to say why the money was needed, or on what grounds the request was refused, while the Times & Citizen was unable to contact anyone from Nirah.
The Nirah Project first gained outline planning permission in October 2007.
It was planned to include two large freshwater aquaria, each holding one million gallons of water, featuring fish, reptiles, and amphibians from one of the world's great rivers, such as the Amazon or Mekong.
A series of smaller aquaria are also intended, plus a 'water adventure park', spa, and hotels.
The facilities are planned to be housed within a tropical 'biotope' and other domelike structures, forming what is vaunted as a new iconic feature for Bedfordshire.
Visitors would be ferried to the site on articulated 'bendy buses' from a park and ride on the old Elstow landfill off the A6.
It was expected to employ 2,500 people. Construction was expected to begin this year, with a view to opening in 2013.
The BedfordToday files:
£600 million Nirah scheme gets the go-aheadCredit crunch threat to Nirah: MayorExternal link:
Nirah website