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Filey community groups could benefit from nearly one hundred thousand pounds of funding.
Town Councillor - Mike Cockerill - says the town effectively has a bank of "Section 106" money.
It's cash that developers commit to community projects when they bid for development projects.
Councillor Cockerill has urged the town council to spearhead a drive to use the money.
A section 106 (S106) agreement is a legally binding agreement or “planning obligation” between a local planning authority and a property owner.
The purpose of a S106 agreement is to mitigate the impact of the development on the local community and infrastructure. The agreement will set out the terms binding on the owners or developer to provide, facilitate or fund the provision of infrastructure, services or other measures that may be needed for the development to be acceptable in planning terms.
Councillor Cockerill says the latest information he has shows that there is nearly £100,000 of Section 106 money that has been accumulated from developments in Filey.
Councillor Cockerill says there are many organisations that could potentially benefit.
Councillor Cockerill says the Town Council has received guidance from North Yorkshire Council about how to apply for funding and what it can be used on.
Filey Town Councillors have backed a plan to write to local groups and organisations to get ideas about how the cash could be spent in the town.
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