The proposal was put to the Moree Plains Shire Council by Returned Services League member Des Hurst.
Mr Hurst initially proposed that one statue be placed on the steps of the hall.
Eighteen months ago he was quoted $70,000 for the cost to build the statue.
Money would be raised during a five-year period to secure the funding from the RSL, the council, State and Federal Government and the community.
The Heritage Department requested two statues be placed on either side of the hall instead of one, doubling the cost.
Council then recommended that the statues be built in three years instead of five.
“The development application has been approved but the conditions are rather ominous,” Mr Hurst said.
“It would have been challenging to raise the money for one statue let alone two, and to cut the time frame seems almost impossible,” he said.
A foundation has been built and the RSL have committed $5000 to get the ball rolling.
Mr Hurst believed the council may have bitten off more than they could chew in regards to the cost and time restraints.
“A great idea may have been spoilt. It’s such a difficult task,” Mr Hurst said.
“We have been left in the dark as to where to go from here. We don’t know if council are going to help with funding and we don’t know how long it will take to get the statues built.”
Mayor Katrina Humphries said although the council were keen to support the proposal, the community needed to secure the majority of the funding.
“It’s not our call. We are very supportive of the statues being placed at the memorial hall but the RSL will be the driving force behind the proposal,” Cr Humphries said.