Villagers have submitted a document to the Countryside Agency seeking the go-ahead to develop a £50,000 Millennium Village Green in Oxenhope.
They want to transform a one-and-a-half acre site near the Keighley & Worth Valley Railway station, which has links with the village's industrial and historic past.
The document was delivered to the CA in Manchester by Oxenhope Parish Council chairman Chris Brown, who said: "It contained the plans and the costings for the whole exercise.
"It is within the sort of finances that the CA has available. The agency meets on June 1 when members will make a decision."
If the CA approves the plan, it will pay for half the cost, the rest having to be raised by the village.
Mr Brown added: "I'm confident we can raise the rest.
"The village has raised similar sums in the past and some of the cost can be offset by carrying out the work ourselves.
"I'm pleased with the way things have gone so far. There's a lot of potential for future problems but providing the CA agree, I don't think there is anything that can stop it. There's a lot of commitment in the village.''
The plot of land has been chosen because of its unique qualities and situation.
It is bounded on one side by Leeming Water, which runs from Leeming reservoir, and has a water channel over the weir once feeding the old corn mill, now pulled down.
The aim is to keep the land as natural as possible, including the boggy area, and to provide access, footpaths and natural style seating.
The project is being spearheaded by the Millennium Green Group and is backed by the Parish Council.
It has already had a small grant from the Countryside Agency to help draw up the proposal with the aid of a landscape architect.
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