The initiative, which is being run in partnership with Historic Scotland, is part of a wider improvement scheme for the town.
A consultation event will now be held about the grants scheme, where residents can find out how they can apply for funding.
The event will be held on Thursday 11 December from 2.30pm to 7.30pm in the Committee Room, Bridge Street Community Centre in Banff.
Awards of up to £10,000 is being made available for property owners on Bridge Street to carry out a number of works, such as repairs to roofs, traditional windows and front doors, as well as shop front restoration and reinstatement of architectural features.
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Councillor Peter Argyle, Chairman of Aberdeenshire Council's Infrastructure Services Committee, said: "The main aim of the scheme is to regenerate the historic conservation core of Banff by improving the economic viability of the town.
"This will be achieved by identifying the realistic measures which will enhance the town's appeal to visitors and investors. It is also hoped that environmental improvements can be carried out to enhance the quality of the streetscape."
Councillor Brian Topping, Vice-chairman of the Banff and Buchan Area Committee, added: "It is very exciting that funding has been secured to allow renovations and repairs to these historic buildings.
"Any owners of properties on Bridge Street should attend this meeting as it will give them the opportunity to understand how the application process will work."
(JP/IT)
