Blackpool is competing against some of the top cities in Europe for a multi-million pound prize being offered by the Mayor of New York.
Michael Bloomberg, who visited Blackpool in 2007 during the Conservative Party Conference, has set European cities a challenge of coming up with innovative ideas which could improve urban life.
A total of 155 cities including Vienna, Paris and Berlin, have put forward bids for the cash from Bloomberg Philanthropies.
Blackpool’s submission, put together by the town’s Fairness Commission, is among 22 from the UK.
It is based around improving housing stock using local skills.
Council leader Coun Simon Blackburn said: “We became aware of an opportunity to put a bid in to this fantastic competition run by Michael Bloomberg.
“There’s a pot of nine million euros up for grabs so we felt it was worth giving it a go.
“The Fairness Commission came up with an idea which would help create jobs and rejuvenate property and all we can do is keep our fingers crossed.
“It’s a long shot but it goes to show we’re looking for every opportunity we can find to lever money into Blackpool.”
Mr Bloomberg, who launched the Mayor’s Challenge last September, said: “The response to the Mayors Challenge across Europe has exceeded even our own high expectations,
“These dynamic city leaders are working to find new ways to tackle some of our most pressing and common urban challenges from youth unemployment to obesity to civic participation.
“The selection committee will have a very difficult time narrowing this strong set of proposals down to 20 finalists.”
The Mayors Challenge will award five million euros for the grand prize winner and one million euros for four additional cities that come up with the most creative and transferable ideas to improve residents’ lives and tackle serious issues.