Banksy’s Art Buff, painted on the wall of an amusement arcade, remains mothballed four years later.

The work appeared in Folkestone as part of the 2014 Triennial arts festival and was meant to be publicly unveiled again this year, according to town’s Creative Foundation (CF).

But, with the clock ticking, a CF spokesman has declined to comment further this week on any plans.

The graffiti artist, believed to hail from Bristol, hit the national headlines again this month when his Girl with Balloon painting was shredded at auction.

While some people have vented their frustration at CF’s secretive approach others believe the work is in safe hands.

Town councillor Jacqui Mead said: “The artwork was created and gifted to the people of Folkestone as a satirical comment on the Triennial by Banksy.

“As such I believe it needs to be housed where residents and visitors to the town can view it easily.

“This artwork was never designed to be mothballed but to be enjoyed by the general public.

“I wonder if the Creative Foundation is planning a big unveiling but they need to communicate that as, having said it would be on show this year, they are running out of time.”

Last year the Creative Foundation announced the work will appear on a new building close to the original location in Payers Park.

But it has remained tight lipped since the announcement.

Cllr Mary Lawes, who believes the graffiti painting is linked to current building works in Tontine Street and Millbank, hit out at the CF.

“I heard at a briefing last year that the Banksy would be in a public space between Tontine Street and the Old High Street at the bottom end.

“It, I believe is linked to all the building work going on in Tontine Street and Millbank at the back of these buildings.

“To me this Banksy is owned by the people of Folkestone and not the Creative Foundation.

“Perhaps the CF should have asked the people of the town (where they wanted it).

“It tells me how much the CF tells Folkestone what to do, instead of including the locals and not just artists.”

The piece showed a woman peering over a plinth and was painted on the side of Palace Amusements arcade in Payers Park, Folkestone, in September 2014.

It became a huge tourist attraction for the town but was later ruined with graffiti.

In November of that year it was removed from the wall by the building’s owners, the family of Jimmy Godden, to appear in a US auction in Miami and was expected to fetch £450,000.

Proceeds from the sale were set to be donated to the cancer charity set up in aid of Mr Godden, the former owner of the Rotunda site at Folkestone seafront, who died in March 2012.

But after it failed to sell a legal battle over its ownership saw the painting placed in the hands of the Creative Foundation which is keeping the valuable work in storage.

Town councillor Danny Brook said: “I also understand that sometimes, despite all the best intentions of everyone involved, things are sometimes delayed and this can cause some frustration.

“However, I remain hopeful that the Creative Foundation will be in a position to announce some dates early next year and I remain confident that the Banksy will eventually be on public display in 2019.

“Folkestone could have lost this artwork forever. Therefore, I believe a small and frustrating delay to the Banksy being accessible to the people of Folkestone is a small price to pay.”