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THE City of Greater Bendigo will decide whether it submits an application for funding to expand the Bendigo Airport at tomorrow night's meeting.
The council will look to tap into a new Federal Government fund to secure the required $5 million for the project to go ahead.
The government's $1 billion National Stronger Regions Fund begins in 2015/16 to fund priority projects in regional communities.
In a report to be presented at tomorrow night's council meeting, director of city futures Stan Liacos said the Bendigo Airport was "top priority" in Regional Development Australia's regional plan.
"Through the recent announcement of the National Stronger Regions Fund, we finally have the opportunity to directly seek a shared funding co-contribution from the Australian Government," Mr Liacos said.
"Realisation of this long-held civic aspiration has been awaiting an equal contribution from the Australian Government for some time now."
Both the council and State Government have pledged $5 million each to the $15 million project.
The airport expansion proposal includes replacing the runway with a wider and longer runway, replacing aviation equipment, lighting and taxi-way infrastructure and retaining emergency services roles.
The project also includes facilitating the Airport Business Park precinct plan.
The report recommends council supports submitting a "comprehensive application" to Federal Government.
The report to council stated the airport project would allow Bendigo to match the capabilities of similar regional cities in Australia.
The Federal Government fund is distributed over five years, with a ministerial panel to make funding decisions.
The final decision rests with Deputy Prime Minister Warren Truss and Assistant Minister for Infrastructure Jamie Briggs.