Derby City Council has announced it will invest £10 million in redeveloping the city, with the help of those with jobs in regeneration.
Last week, the local authority launched the Regeneration Fund to kickstart projects and create new jobs for residents.
Adam Wilkinson, chief executive of the council, has called for firms to come forward with ideas on how to invest the money.
A spokesman for the UK Knack Group said that the fund will provide a "great opportunity for private companies" to be part of the developments.
It was added that it will "not only create new jobs but also benefit the whole community".
The UK Knack Group also revealed that it is hoping a further £75 million will be provided by other companies as an investment in redeveloping Derby.
Last week, Barry in Wales received a grant of £3.86 million to pay for 16 town planning projects in the area and improve its town centre.
Posted by Jennifer Masters
