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A sum of £250,000 will go towards the launch of the community fund, the Port of Dover has announced.
The fund will also be injected with an annual contribution of 1% of pre-tax profits.
Chief executive at the port, Tim Waggott said: "We have been working hard to establish a community fund for Dover and have positively engaged with our community on how to make it really effective.
"I am personally very grateful to the Bishop of Dover, the Rev Trevor Willmott, for his guidance and input and offer my sincere thanks to all those who have given their time to help us move forward in delivering a key element for our shared vision for Dover."
Mr Willmott added: "People are passionate about Dover and are passionate about how the fund should be used.
"We must come together to ensure that Dover receives the best opportunity from this significant new fund which the port is establishing together with its community.
"I am delighted to be playing my part in guiding this process on to make sure it happens."
The port has been hosting a selection of community workshops, encouraging people to come forward with their opinions.
The last one, held on September 22 focused on the community fund itself.
People said the fund should: