KENDAL town councillors have welcomed proposed new measures contained within the Rural White Paper.
And they are to look at arranging a special meeting to discuss ways of "drawing down" any funding which may be available.
The long-awaited Rural White Paper was unveiled by the Government in November and is set to bring much-needed investment into agriculture and market towns.
One hundred market towns, which the Government sees as crucial to the revitalisation of rural economies, are set to benefit from a £100 million regeneration programme and councillors are to investigate whether Kendal could receive any cash.
"We should look at what we can pursue in terms of drawing down some of the monies available to us," said Coun Chris Mayo.
"We may not be able to get our hands on much of it because there may be other deserving towns.
But if we don't make the effort then we will not get a penny of it."
Before the meeting is arranged town council clerk Hugh McClorry is to investigate whether Kendal is classed as a small town with a population under 20,000 people.
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