The council came under fire from Councillor Simon Harris and Councillor Ann Maltby last week after they claimed the authority wanted to give the historic Allan Williams Turret away.
They said the turret was a part of the town’s history and that they wanted it placed in the town’s memorial garden.
But in a statement Broseley Town Council said the turret is not part of the town’s history and the authority does not have the money to bring it up to standard.
The statement said: “Broseley Town Council has not reached any decision regarding the Allan Williams Turret.
“The matter has not yet been brought to full council for debate, we are merely consulting with local residents and exploring the options.
“None of these options is in Telford & Wrekin.
“The turret is not part of Broseley’s heritage. Members of the town council merely saved it from being scrapped.
“Therefore, one of the options being explored is to have it put back near to its original location where it would have historical relevance.
“The item is in very poor condition. Before it could be put on display in a public place it would need professional conservation treatment and to be made safe.
“Broseley Town Council does not have a budget for this and, since the object did not originate in Broseley, we would want to explore external funding sources to finance the cost.”
Last week, Councillor Harris had said: “There has been a proposal that the turret should be moved to land within Telford & Wrekin and I am a little bit angry about it.
“When the power station closed myself and others went up there and recovered items which had been used by the people of Broseley during the Second World War and brought them back to the town.
“We have plaques in the town centre and various items on show and they have all been very well received by residents who are proud of the town’s history.
“We had the turret looked at by an expert and he told us it is priceless. So where should it go? The memorial garden for sure.
“We have the full support of the local Royal British Legion group as well.
“It is a reminder of all the sacrifice and effort that went into the war by the people of Broseley and it is only right that we have it on show here and not passed off elsewhere like Jackfield or Telford.”
He added: “There is £4,000 in the town council budget to have it looked at and cared for and put in the Memorial Gardens.
“But there is another group of councillors who want to give it away.”