Bolton town centre has been chosen to go through to the second phase of the government’s Future High Streets Fund.
Bolton Council put forward a £25m bid earlier this year for a share of the multi-million-pound pot of cash to help improve town centres.
The £1bn fund was set up to support local areas to make their high streets and town centres fit for the future.
The authority’s bid for Bolton has now been selected to go forward into the next stage of assessment.
As a result of being selected, the council will now receive a grant of up to £150,000 to help develop a full business case for the proposed investment programme.
Bolton is one of 50 areas across the country through to the second phase.
Council leader Cllr David Greenhalgh said he was delighted that Bolton has progressed to the next round.
As a council, we are committed to making Bolton town centre an ideal place to live, work, shop and visit.
He said: “This is brilliant news for our town and work will now begin on building the business case for funding.
“As a council, we are committed to making Bolton town centre an ideal place to live, work, shop and visit.
“The £1.2bn masterplan is progressing well as we look to regenerate key areas of the town centre.
“This investment will continue regardless of whether or not we are successful in our bid for the Future High Streets Fund, but the funding would allow us to do even more.”
Together with its private sector partners, the council is delivering a £1.2bn masterplan to transform the town centre.
A series of landmark mixed-use schemes on five strategic sites delivered by 2030 will create 2,000 homes and 7,400 jobs, bring attractive green space and improved connectivity, and an estimated £412m of additional economic activity.
The masterplan focuses on the five key locations or ‘intervention areas’ of Church Wharf, Crompton Place, Trinity Quarter, Cheadle Square and Croal Valley.
The news comes following an announcement last month that Farnworth had progressed to the next stage of the FHSF.
The maximum award under FHSF is £25 million but most successful bids are expected to receive £10 to £15 million.