Regeneration chiefs were due in Bradford today to discuss a multi-million pound bid to transform Lister's Mill.
Bradford Council is planning to ask for funding from Yorkshire Forward - the new regeneration agency.
Yorkshire Forward board members were meeting residents, including members of the Manningham Mills Community Association, and making a tour of the landmark building.
The group will advise Bradford Council on putting together a detailed bid to purchase the mill which was included in an English Heritage list of 1,500 outstanding historic buildings at risk. The seven figure sum will help pay for emergency repairs which have been estimated at costing more than £500,000.
Councillor Dave Green, chairman of Bradford Council's regeneration committee, said: "I welcome this visit by senior representatives of the Regional Development Agency and recognise they will have a key role to play in existing and future major regeneration programmes.
"They will see that Bradford has a successful track record in securing and managing SRB programmes aimed at creating jobs, investment and prosperity within local communities."
Members of Yorkshire Forward were also visiting a number of regeneration projects around the region including Thorpe Edge community project, Newlands Youth Action Team and the Sangat Community Centre in Lawkholme, Keighley.
Board member Julian Cummins said: "The purpose of our visit to Bradford and Keighley is to talk to communities to find out how Yorkshire Forward can help boost their quality of life.
"Our task is to find ways of helping local communities to reverse that decline and we are committed to exploring every opportunity. That is why we are currently working with Bradford Council on a bid to revitalise Lister's Mill which for decades was the hub of the community."
Yorkshire Forward is the new name for the Regional Development Agency.
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