The commission presented council members with a new site design during a Monday work session, including improvements for the fountain, which collapsed about two years ago for unknown reasons.
Plans to the area include adding a sculpture, which committee member Catherine Thomas said would be a meaningful tribute to Aiken and its founder.
"People are going to have fun with it," she said.
The statue would cost about $25,000, which a local company will provide, but does not wish to be recognized at this point. The commission is trying to locate a photo of Aiken, but the statue will be based on photos of his son if one cannot be located, according to Thomas.
Fountain renovations are expected to cost $10,000 and would including adding benches around the fountain, installing new pavers and putting in additional green space.