LouthXSports and The Magna Vitae Trust, who are working together to create the facility on the Wood Lane playing fields next to Meridian Leisure Centre, received the grant last week - and are now well on the way to begin construction work on the site in September.
The Veolia Environment Trust awards grants through the Landfill Communities Fund, and since 2007 they have awarded over £302,000 to 12 projects in Lincolnshire.
Executive Director of The Veolia Environmental Trust, Paul Taylor, said: “This project will encourage young people to engage in a positive activity and enjoy outdoor exercise.
“LouthXSports needs to be congratulated on securing this grant in an extremely competitive environment.”
Chairman of LouthXSports, John Andrews, said: “This grant is great news.
“We believe that the whole community will benefit from a purpose-built safe facility for ‘extremers’, away from residents and businesses.”
Mr Andrews told the Leader that it took around three months to secure the grant, and was achieved thanks to the expertise provided by Stuart Pickering.
He added: “I am thrilled that we’ve received this grant.
“We have been going for over 10 years and, now we are getting nearer to fruition, our fundraising is well on its way and we hope the skate park will be ready by the end of September.
“Our group has been working hard, but this wouldn’t have been possible without the local support.”
Local councils, residents groups and volunteer fundraisers have all raised cash towards the project in recent months, with events such as race nights, gigs, and quizzes taking place in Louth.