The money would be used to transform the brownfield area between Lincoln Lane and West Street, incorporating St Georges Road, Lawrence Lane, Bond Street and Rosegarth Lane.
Sitting within the outlined site is the Len Medlock Centre, Boston Health Clinic and the now vacant JobCentre and former B&M Bargains store.
As reported two weeks’ ago, the council is hoping to secure the investment money from the second round of the Government’s Levelling Up Fund (LUF).
The authority says that if successful in its bid, part one of the scheme could see the delivery of “a significant enhancement of the public realm (spanning the area between the river and the Len Medlock).”
A spokesperson explained: “This is seen as an impactful and positive intervention, which can be delivered in the short-term and would create the conditions for unlocking the adjacent parcels of land.
“It would give a strategic place-making opportunity that seeks to utilise best practice to form a safe, enjoyable, accessible and vibrant place – combining multi-use and activation / inclusivity / play and learning / health and well-being / art and heritage. It would also provide confidence to other investment opportunities as well as making an immediate difference to the sense of place.
“This would hit a number of the key LUF objectives around re-use of brownfield land, sense of place, cultural and environmental change etc.”
The council says these works would also look to incorporate an archaeology project, and ‘community dig’.
One idea for the second part of the scheme could see the old Job Centre turned into a ‘mix of housing and commercial/community uses’.
The spokesperson said: “This vision aligns with part of a stalled project already underway within the building.
"Clearly as a stalled project, the site is falling in to wider disrepair and detracts from the area as well as creating a focus for anti-social behaviour.”
They added: "Funding would be used to ‘pump prime’ investment in to this building and in turn delivery of increased activity and improvements aesthetically.”