Newark & Sherwood Council says it has a number of projects which have the ‘potential’ and ‘vision’ to be accepted.
Councillors will vote on submitting a Sherwood Constituency Levelling Up Fund bid for up to three projects for a total grant of up to £20m – levelling up is a policy devised by Boris Johnson’s Conservative government which aims to address imbalances between different areas across the UK.
One of the potential projects is for an ‘Ollerton hub’ which would form a partnership between NSDC, Ollerton & Boughton Town Council, and a private landowner to develop a base in Ollerton town centre.
It would also provide opportunities for new shops, offices and residential uses.
NSDC said negotiations also continue with Inspire and the NHS in order to secure a new library and health facility in the town.
The proposal is to create an energy efficient, low carbon, renewable-energy-generating industrial park.
Council documents stated: “For the avoidance of doubt, any LUF bid is recommended to be a start not a finish to providing opportunity, ambition, and aspiration for the Sherwood communities.”
The second round of the Levelling Up Fund was launched in March and final bids must be submitted by the deadline of July 6.
Bids are assessed on value for money and deliverability including a requirement for spending to begin in 2022/23 and end in 2024/25.
Match funding of at least 10 per cent is required.
The authority’s councillors were due to discuss the plans at a cabinet meeting on June 7.
The district council said that it has previously secured more than £47m in investments from funds including round one of the Levelling Up Fund.
They said it has led to ‘additional grant investment, unlocking multiple times that amount to provide new facilities and opportunities for residents, businesses, and communities’.