The full amount in the pot is £1-billion, and NELC is hoping to be awarded up to £25-million towards a cinema-inspired revamp part of Grimsby town centre.
So far the Government has not revealed the criteria for making the award, nor who will make the decision.
If lobbying by local MPs is likely to be a factor, NELC should be in with a very good chance.
This is partly because Martin Vickers (Cleethorpes) is - or certainly has been - on cordial terms with the Prime Minister, Boris Johnson, and partly because the latter regards Lia Nici (Grimsby) as someone to be greatly cherished.
The Conservative Government is also keen to keep Grimsby voters sweet as a reward for what happened at last December' General Election.
On the downside, the NELC bid is decidedly underwhelming and has signally failed to inspire townsfolk.
And unlike those from competitor-authorities, it is not even all its own work.
It has been compiled by an unnamed property consultancy and a London-based firm of architects - Leslies Jones of Ladbroke Grove.
The closing date for bid submissions is July 31, and the one from NELC is due to be talked up, then signed off by its cabinet at a meeting this afternoon.
Below is a list of the 50 hopeful towns:
Brierley Hill High Town Centre
Barrow Town Centre
Dover Town Centre and Waterfront
Plymouth City Centre
Kingswood, Glos
Leamington Town Centre
Scunthorpe
Blackpool Town Centre
Kirkham Town Centre, Lancs
Runcorn Old Town
Bideford
Barnstaple
Sutton in Ashfield
Newton Abbot
Barnsley Town Centre
Fratton, Hants
Ramsgate
Elland Town Centre, W Yorks
Grimsby Town Centre
Rochdale Town Centre
Southampton
Salisbury City Centre
Newcastle-Under-Lyme Town Centre
Doncaster Waterdale
Northallerton
Grantham
Loftus (Redcar and Cleveland)
Nuneaton Town Centre
Tamworth Town Centre
Bolton Town Centre
Paignton
Scarborough Town Centre
Carlisle City Centre
Blackfriars - Northern City Centre
St Neots
Blyth Town Centre
Clacton Town Centre
Trowbridge
Bacup Town Centre
Wealdstone
Portsmouth,
Grays Town Centre
Holbeach
Harlow Town Centre
Putney Town Centre
High Wycombe
Cinderford Town Centre
Maryport Town Centre
Middlesbrough Centre
Woolwich Town Centre
The Grimsby News says: NELC should be commended for at least being sufficiently enterprising to prepare a bid. What a pity it is - as we have previously reported - that it is so lacking in imagination and originality. It is a stale document without a single fresh idea. The authority will have spent a huge amount of precious monies on the initiative. Just how much has yet to be revealed. But why did it not engage a local firm of architects - one which would be possessed of a far better understanding of Grimsby, its heritage and how best to devise a scheme that would work for the town and its people?
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