Education chiefs today confirmed Marton Primary will receive part of a Government windfall of £29,300 from September to turn around its fortunes.
A scathing Ofsted report a year ago plunged the school into crisis, sparking an angry reaction from a group of parents determined to oust headteacher Ruth Coupe.
Assistant headteacher Beverley Alderson was then suspended in July 2005 over "certain allegations" made at the Whernside school.
It is a row which has not been settled nine months on.
The rest of the £29,300 will be spent on improving Blackpool Local Education Authority's diversity department after it too was criticised by schools watchdog Ofsted.
School bosses are determined to improve performance at Marton Primary to lift it from the "underachieving" pile.
A spokeswoman for Blackpool Council said: "The amount of funding Blackpool is receiving from the DfES is low compared to other authorities as we've no schools which are in special measures.
"The funding will allow the council to offer more support in specific areas of teaching and learning in a small number of schools.
"The majority of the funding will be used to implement the educational diversity improvement action plan in order to successfully meet its Ofsted notice to improve and to support Marton School's removal from the Ofsted category of underachieving."
Boundary Primary in Grange Park and Holy Family RC Primary in North Shore were the last schools in Blackpool to be lifted from special measures – a period of intense scrutiny during which inspectors monitor the school every term rather than every few years.
Blackpool will receive the cash from September with the same amount allocated in 2007/08.
Education Secretary Ruth Kelly said the £30m improvement drive will step up plans to turn around failing schools, particularly those in the most deprived areas.
She said: "We've made good progress in reducing the number of failing schools and the average time it takes to turn around a school in special measures.
Support
"But we know there are still pupils who are let down by attending poorly performing or failing schools for too long, and schools that do not receive the necessary support and challenge until it is too late.
"These announcements nail the myth that our reforms will not help our most deprived communities or disadvantaged schools. This drive will ensure every school is a good school, and for every pupil to achieve their potential."