The Pride In Your High Streets fund will support the council’s aim of attracting inward investment and supporting existing borough businesses to expand.
The deadline for bids closed on Wednesday 30 September and a late rush of applications has resulted in a total of 46 bids being received.
The money is split into two different pots - £800,000 for applications aimed at increasing the prosperity and success of specified High Streets and Local Centres and a £200,000 Innovation Fund for original ideas, new activities and cultural events.
The latter pot will see investment made in promotions and activities to attract people to visit and use the local High Street and Local Centres, adding to the attraction of the borough as a destination of choice for visitors.
The fund has been open to organisations in the following areas: Dawley, Donnington, Hadley, Ironbridge, Madeley, Newport, Oakengates, St Georges, Wellington
The council is now going through preliminary due diligence to determine which bids meet essential criteria before going through financial and legal evaluation.
The intention is to announce which bids have been successful at a cabinet meeting early in the New Year.
Councillor Shaun Davies, Telford & Wrekin Council’s cabinet member for Business, Neighbourhood and Customer Services, said: “I am absolutely delighted that we have had such a fantastic response from the community.
“To get nearly 50 bids is very impressive and we now have a big job on our hands going through all the documents we have received.
“It demonstrates that our community care passionately about the various High Streets and Local Centres around the borough and this is a fantastic seven figure opportunity to make them even better.
“I am looking forward to the New Year when we are in position to announce which bids have been successful.”
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