Watch Richard Payne's report.
Plans have been put forward to turn a former lido into an events space which can hold up to 8,000 people in Weston-super-Mare.
The Tropicana sits on the town's seafront but has been largely unused since it closed in 2000.
But now North Somerset Council is hoping to transform it into an outdoor events space with a capacity of 8,000.
The authority has bid for £15million from the Government's 'Levelling Up Fund'.
If it gets the money it will split it between the Tropicana, developing the Sovereign Shopping Centre in Weston-super-Mare and helping the RNLI restore Birnbeck Pier.
The Tropicana operated as an outdoor swimming pool for years, but closed in 2000.
Despite campaigns to revive it, it was derelict for years.
But in 2015 elusive Bristol street artist Banksy used the venue for Dismaland - an art installation in the form of a sinister twist on Disneyland.
North Somerset Council also spent £550,000 making the building safe and opened a cafe at the site in 2015 but fresh plans could see it transformed.
The council's executive member for placemaking and economy Mark Canniford said: “These plans will help define Weston town centre as a place for people to work and spend their leisure time.
"The fund is highly competitive, but we are committed to continuingly seek to invest in Weston’s town centre and hope that this bid forms part of that future investment.”
A decision on whether the bid is successful will be made in the autumn.