Mayor Jim Watson has rejected a proposal to delay the vote on the new LRT route by 30 days.
But city council voted to consider moving a downtown light rail station further east on March 28.
The night before, the owner of the Lord Elgin Hotel had offered the city $2 million to move a proposed LRT station from the Byward Market to near the National Arts Centre and Confederation Square.
In a letter to city council, Jeff Gillin offered $200,000 over 10 years to offset the cost of building the station.
Watson welcomed the offer of money from Gillin Tuesday evening, but has rejected his request for a 30-day pause to find more contributors.
The city had originally planned for an eastern station on Elgin Street. However, Ottawa Mayor Jim Watson's plan has proposed moving a downtown light rail station further east towards the intersection of Rideau and Waller streets.
Council has passed a motion to explore the possibility of building a connecting pedestrian tunnel to the National Arts Centre.
City staff will prepare a "tunnel feasability study" to evaluate the costs involved with connecting the NAC building to the proposed Queen Street downton LRT station.