Mayor David Downie has also ruled out tipping in ratepayer funds to cover costs to provide certainty to one of the council's historically biggest visitor drawcards.

"We have a lot of events in our municipality and the council is very supportive of those events," Cr Downie said. "But we just don't have the resources to organise all of these events, but we certainly help them.

"It is very important because it is bringing visitors into our town."

Organisers of the event, a 1950s and 60s reflection of motoring back when the small town was the centrepiece of the sport in Australia, have postponed or cancelled the revival three times since 2012.

A recent announcement from event company Octagon put plans on hold for the February 27-28 event until further notice.

"Council would be concerned by that," Cr Downie said.

"The revival was about promoting the historical link with motorsport racing in Longford.

"If this one folds, I am sure there will be someone else to pick up the idea."

Doubt was cast over the Longford Revival's future at a council meeting in 2014, with concerns raised about the cost to run the event.

It returned the next year to poorer than expected crowd numbers. However, it was decided to open the gates in 2016 so the public would better embrace the town's rich motoring history.

Cr Downie said it was imperative the council got behind a range of other events - penny farthings at Evandale, the marathon run at Ross, the Campbell Town Show, the Festival of Roses - to help stimulate the economies of the municipality's small communities.

"Council is there to support, foster and encourage the community to organise these events," he said.

Octagon is still promoting the the Longford Revival running in February on its website following a "hugely successful re-launch of the Longford Revival last year".

The program was set to include The Flying Mile, Longford Pub Corner Stage Street, Symmons Stage Sprints and a Secret Stage.

Longford director Clint Pease did not return The Examiner's calls for comment over a later date in 2016.