A new plan for the baths site, which has been derelict for almost 20 years, was unveiled in March 2015. Work was supposed to begin in June of last year  and completed in 2018 but nothing appears to have happened to-date at the site.
Update: 18/9/2017: Tenders for the Baths project have been received and are currently being analysed.
Below is an official description of the proposed project:
The project involves the construction of a new jetty to enhance facilities for swimming and greater access to the water's edge. It will also provide for the continuing of public use of the existing Baths pavilion. The refurbishment of the existing Pavilion Building will enable it to be used as a gallery cafè, artists' workspaces and for the provision of public toilet facilities.
The scheme connects the walkway at Newtownsmith to the East Pier and the People's Park. This will be enabled by the removal of dilapidated structures to the rear of the Pavilion, allowing the creation of a new route and landscaping. The project is currently at contractor tender stage.