The idea, to be discussed by the town council's twinning sub-committee on January 23, involves an exhibition to mark the 25th anniversary of the signing of the twinning charter and the 50th anniversary of the towns' first youth exchange.
The promoters are at present aiming at the second half of 2002 or early 2003.
The council agreed in principle in November to host the exhibition, if the money could be found, but all the details remain to be thrashed out.
Town clerk Roger Howard has been exploring the possibilities. The venture could be supported by grants from bodies in both the UK and Germany.
It is hoped the German Embassy might make a contribution, as it has a special fund for twinning associations.
All the material for the exhibition already exists. It has been shown in several places in Germany, attracting thousands of visitors, and has been featured on German television and in the newspapers.
The exhibition is at present still touring Germany and is expected later to go to Poland. There are also talks about taking the exhibition to London, but it could come to Tavistock before that.
When it first opened in Celle in March 1999, the British Consul General in Hamburg was among the guests. He suggested taking the exhibition to England and Tavistock was proposed as the obvious place to start.
The subject of the exhibition, the title of which is at present rather awkwardly translated as 'Strange(rs) Home in Lower Saxony', is the story of the 50,000 refugees from the east who flooded into Celle and the surrounding district at the end of the second world war.
It comprises text, charts, photos and documents.Rainer Schulze, director of undergraduate studies in the history department at Essex University, had the original idea for the exhibition.
As a professional historian he had a special interest in the Celle area and he has sought a commitment from the authorities in both Celle and Tavistock to hold the exhibition here.
The town clerk of Celle has already sent his agreement, now a final decision is awaited by Tavistock.
Mr Schulze did not know how much money would be needed, but said the main costs would be for transport, travel, insurance and translation of the materials into English.
Kelvin Stagge, of the Tavistock Tourist Information Office said the idea of the exhibition had great potential, though it still needed the council to approve it.
'I am most definitely in favour and I would like to get the Lions, Tavistock Forward and the chamber of commerce involved, as well as the local schools,' he said.