A £50,000 lotto boost for Inverkeithing could bring the town “back to its former glory”.

Initial development funding of up to £50,500 has been awarded by the Heritage Lottery Fund to help progress Fife Council’s plans for repairs and improvements to the town’s historic streetscape and buildings.

And delighted Inverkeithing councillor Alice McGarry said: “It’s really good news. The town centre is in a complete state, and this is the first step in a long process to make needed improvements.

“In the scheme of things, it could be a £3million investment, so this £50,000 is corn money.

“I hope it can bring Inverkeithing back to its former glory.

“It’s not just the town centre but other historical buildings in the town like the Town House on Townhall Street.

“It’s a big project and a delicate process as you have to jump through various hoops to secure the funding required.

“Hopefully, it’ll be an inclusive process where the people who live in Inverkeithing will be able to have their say. It’s about what the people want for the town.

“This first stage is a great step in the right direction.”

More detailed proposals will be submitted with an application for a full National Lottery grant of up to £1.2 million early next year.

The cash could then form part of a £3million investment in the town as a complementary bid will also be made to Historic Environment Scotland for a Conservation Area Regeneration Scheme (CARS) in Inverkeithing.

If both bids are successful, this would be combined with Fife Council money and other funding contributions to deliver a five-year heritage-led regeneration programme, starting in June 2019.

Inverkeithing will be competing for the funding with other towns across the UK – and is the only place in Scotland to receive the initial funding this year.

Gordon Mole, senior manager, business and employability, Fife Council, said the announcement was great news for Inverkeithing and another step forward in its regeneration.

“It will build on the town’s housing-led regeneration at Fraser Avenue and would realise some of the improvements local people have called for through the current ‘Imagine Inverkeithing’ community-led planning process,” he said.

“With the Heritage Lottery funding award this year, we can now work with local partners and Fife Historic Buildings Trust and to develop our second round application, and hopefully see the combined Conservation Area Regeneration Scheme/Towns Heritage programme begin in 2019.”

The heritage-led plans for Inverkeithing would see the repair and development of the Grade A-listed Town House into a fully accessible community use hub and the creation of a building repair grant scheme which would deliver targeted repairs and improvements to other buildings.

There would be a major uplift of the streetscape at the heart of the town, enhancing and restoring historic features as well as the introduction of a wide range of heritage-themed training and educational activities to benefit local people and aid heritage conservation in the longer term.