Hinckley and Bosworth Borough has agreed a short term loan to developers The Tin Hat Partnership to allow construction to start next March.
The cash will enable Tin Hat to complete the whole scheme, including a supermarket for Sainsbury’s, shops, car park, bus station, a Cineworld cinema, family restaurants and ‘public realm’ improvements between March 2014 and spring 2015.
The news will be a boost for bidders believed to include Bowmer & Kirkland, Galliford Try and Vinci.
Council Leader Stuart Bray said: “I am delighted that this scheme can now go ahead and pleased that the council is playing a legitimate and leading role in ensuring the delivery of an important project, using the design overwhelmingly supported by local people.
“Very few, if any similar developments will be taking place across the country in the current circumstances.”