The children's play area on the Rec-reation Ground in Newent could soon receive a £20,000 upgrade.
Various grant-making bodies, including the Lottery, have been contacted over funds and if all goes to plan, new play equipment could be in place by the autumn.
A youth shelter and play wall have already been installed on the Watery Lane site in recent times.
But these facilities benefit Newent teenagers, while the planned new facilities are likely to attract younger children, aged from five to 11.
Peter Street, project co-ordinator for the Newent Initiative, said the money would be spent on an upgrade of equipment used by primary age youngsters, such as swings.
Existing facilities on the site for youngsters are considered to be getting past their best.
Newent mayor Fred Passant said the planned new children's recreation area at Lakeside would still go ahead as well.
But this was dependant on a contribution of £30,000, set to be paid by the developers of the Bennions site, off Broad Street, once work on the housing scheme there is completed.
The Lakeside play area would also be aimed primarily to cater for younger children.
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