Newark and Sherwood District Council says revised proposals have been drawn up for improvements to Newark Market Place.
The original plans could not be delivered in full within the available £3.61 million budget from the UK Government’s Local Regeneration Fund.
The new scheme focuses on improved power supplies for markets and events, better lighting, CCTV upgrades, pavement improvements for al fresco use, and new market and pop-up stalls.
The council says around £200,000 has already been spent on design work, surveys, engineering assessments, archaeological investigations and feasibility work.
Council leader Paul Peacock says the work has helped show what is affordable before construction begins.
If approved, the council intends to appoint a contractor and begin work in the new year, with affected traders involved in the process.

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