Southport MP Damien Moore says the Town Deal is one of the best opportunities Southport has had for many years.
The initiative allows Southport to put bids for funding together for up to a total of £25million, which it will then submit to the government.
Successful bids must demonstrate that they will contribute to the regeneration of the town.
Mr Moore, who was re-elected as Southport’s MP for his second term last year, said: “There has been a lot of speculation and half-truths surrounding the Town’s Fund I helped secure last year, and what it means for Southport. I wanted to take this opportunity to set the record straight.
“The idea for a Town’s Fund began last year when I, and like-minded colleagues, lobbied the Government for a pot of money which could be used to invest in towns which may have been neglected in the past.
“The Government listened to our proposals, and the Prime Minister announced a £3.6 billion Town’s Fund. 100 towns across the country were chosen to take part in the scheme, with a maximum of £25 million ring-fenced for each. Southport was one of those towns.
“Each has been asked to set up a Town’s Fund Board, which will draft proposals on how they wish to see their £25 million spent. If the proposals meet the criteria, the money will follow.
“A couple of months later, it was announced that Southport was to receive £173,029 of capacity funding. This money was provided to cover the cost of creating those detailed and thorough proposals. Using the capacity funding, Southport has now convened our Town’s Fund Board, of which I am a member.”
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