HUNDREDS of thousands of pounds of regeneration cash is expected to be shared between three areas of Kent straddling the M20 over the next financial year.

The Channel Corridor Partnership, made up of Maidstone Borough Council, Ashford Borough Council and Shepway District Council could receive as much as £700,000.

The final amount will depend on the South East of England Development Agency (SEEDA) accepting a performance plan, due to be submitted next week.

It will detail key projects which the partnership hopes to get off the ground over the 12 month period to April 2005.

A meeting of Maidstone Council's cabinet heard that SEEDA had indicated the partnership would receive the cash, subject to the successful completion of the plan.

Maidstone Council has the lowest number of socially deprived areas of the three areas, a factor that may influence the amount it receives.

If SEEDA agrees to release the funding Maidstone Council will spend its share on two schemes, which are deemed ready to put into action.

These include the setting up of a pilot Business Improvement Scheme in Maidstone town centre and the promotion of the borough as a media business hub.

Maidstone Council leader Cllr Mick Stevens (LibDem), said: "I am confident that we will receive some SEEDA funding, and hope to have a decision within the next fortnight.

"If we're successful there is every possibility that we will be able to unlock further funding from SEEDA and other sources in the coming years."

*The Kent and Medway Learning Skills Council has offered the Channel Corridor Partnership £150,000 to spend on skills training in the three areas.

Officers are currently drawing up a scheme, ahead of a final bid. A decision is expected in March.