In a surprise move, Belfast City Council held a private vote on Wednesday, deciding to clear the site at Meridi Street due to worries about asbestos and possible disturbances to power supplies.
It's believed that the nationalist party Sinn Féin, the Alliance Party, the SDLP, and the Green Party were in favour of the clearance, while the unionist DUPstood against it.
The local police have acknowledged receiving a formal request from the council for support.
A PSNI spokesperson commented: "The PSNI have received a formal request for assistance from Belfast City Council in relation to the removal of material from a bonfire site at Meridi Street in south Belfast."
They further explained the gravity of the situation by stating, "We have declared this as a major incident and a Tactical Coordination Group has been established this evening with multi-agency partners to ensure joint understanding and to comprehensively assess all of the risks associated with this request."
Emphasising caution, they added, "No decision has been taken at this stage and we continue to work with our partner agencies and community representatives on this matter.", reports Belfast Live.
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Paramilitary WarningThe stakes were raised when paramilitaries in south Belfast jointly announced that there could be "serious and sustained disorder," following this development.
The PSNI have been put on high alert over the potential for widespread unrest, with warnings that loyalists in various parts of NI might instigate interface riots to overextend the police force, according to a recent statement:
"The police have been told there is a very real prospect of serious and sustained disorder should there be any effort to remove the bonfire."

A bonfire situated in the Village area close to Donegall Road has raised concerns, particularly because of its location near an electrical substation, sparking fears that it could jeopardise power supply to City Hospital and Royal Victoria Hospital.
Belfast City Council has made a definitive move, with a spokesperson confirming: "Members of the Strategic Policy and Resources Committee decided to approve the use of a contractor to remove bonfire materials from the site at Broadway Industrial Estate."
The council is also taking proactive steps, as "Elected members also decided that the council would write to the Minister of Agriculture, Environment and Rural Affairs to seek assurance that the NIEA will fulfil its obligations in relation to the site."
Legal developmentsTuesday evening saw new legal developments, with reports emerging of legal correspondence being exchanged involving a law firm and several bodies including the PSNI, Northern Ireland Environment Agency (NIEA), the Department for Infrastructure, the Department for Communities, and Belfast City Council regarding the contentious bonfire.
Northern Ireland Electricity (NIE) has voiced its concerns regarding a bonfire on Donegall Road, due to its close proximity to a substation, which poses a potential threat to vital infrastructure and could lead to power outages. NIE revealed they are "aware of the Donegall Road bonfire and have met with relevant stakeholders to express our concerns over the bonfire's proximity to the substation causing potential risk to critical infrastructure and power outages."
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