A Monaghan councillor says the approval of the Dublin Street North Regeneration Plan and the Roosky Lands Master Plan is a "landmark" moment.
The plans have been described as "ambitious but deliverable".
Senior Planner, Adrian Hughes, told the meeting that funding of €13 million has already been secured.
He called the plans "ambitious but deliverable" and said it was a project "we can all be proud of".
Mr Hughes said he wanted "to go to formal public consultation" and added that consultants had met with landowners.
He told the meeting that the Dublin Street North project will "put people and pedestrians first" and "re-imagine Old Cross Square".
Meanwhile, Mr Hughes says the Roosky plans will make use of its proximity to Monaghan Town centre and ensure "everything is within a 15 minute walk", which he says will make it an enviable place to live and work in.
And while Mr Hughes said the topography of Roosky was a "key challenge", he added that the works are "achievable".
Sean Conlon proposed moving to public consultation, and it was seconded by Raymond Aughey.
Councillor Conlon called it a "landmark" decision that now puts the plans on a "statutory footing".
Cathaoirleach Aidan Campbell said the plans are a "comprehensive report" and welcomed it moving to the next stage.
