The project in Hawick aims to protect around 600 homes and businesses from flooding via the River Teviot.
With outline designs now agreed, the publication of the scheme will take place in April.
This phase opens the project up to potential objections over a 28-day period, before councillors give final approval to the scheme in September.
It is estimated the project will cost £41 million and be completed by March 2022. The Scottish Government will meet 80% of the overall costs, with the remainder provided by the council.
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Cllr Gordon Edgar said: "Significant progress has been made by the Council to the Hawick Flood Protection Scheme in recent months.
"The process has been aided by engagement with the public, community groups and businesses in order to overcome key issues, which if raised as objections after publication of the scheme could have led to delays.
"The support from members of the Hawick community has been invaluable, and the Council is committed to delivering a flood protection scheme for townsfolk who have suffered from flooding in recent years.
"With the opening of the Selkirk Flood Protection Scheme this week, we can see the tangible benefits of such a project, with 600 homes and businesses now protected from major flood events.
"We believe Hawick Flood Protection Scheme can provide similar opportunities around business growth and employment, as well as providing protection to people’s homes from major flood events."
(LM/MH)
