The redevelopment of Rawtenstall town centre is set to get a multi-million pound government cash boost.
It has been added to the list of urban hubs eligible for a special Levelling Up grant.
In October, Prime Minister Rishi Sunak announced 55 towns across the country would receive ‘endowment-style' funding and support worth up £20 million over the next 10 years to invest in communities and regeneration.
They included Accrington, Darwen, Burnley and Nelson.
Now Chancellor Jeremy Hunt has added another 20 to the list, including Rawtenstall, eligible for money from the Long-Term Plan for Towns initiative.
The grants would go to Rossendale Council which has been developing a masterplan for Rawtenstall to encourage further investment into the town centre and to co-ordinate and enhance the public realm and functionality of the centre.
Projects identified in the blueprint include making the streets more vibrant by organising events, improving the market as a destination, and increasing safety by improving lighting, crossing points and updating pavements.
The masterplan, which is being developed in conjunction with Lancashire County Council, also proposes to make the town a greener place by introducing more trees along St Mary’s Way, and by developing better access to woodland trails and country cycle ways.
Rossendale Council chief executive, Rob Huntington, said: "This is a further boost and chance to invest in Rawtenstall's future, which we hope will create a tangible impact on the lives of our residents and the business community.
“Rawtenstall boasts several inherent strengths, including a strong sense of community and pride in its rich history.
"The projects we have currently proposed in the masterplan whilst not finalised aim to leverage these strengths and an enhance the town centre experience.
“The additional money announced today will go towards helping us in achieving these aims.”
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