The new information on the operation of the £60m scheme was issued by the Scottish Government and COSLA today.
The fund will complement efforts already underway to support town and city centres across Scotland which are feeling the effects of the economic downturn.
A wide range of bodies including local authorities, Community Planning Partnerships, Business Improvement Districts, Town Centre Managers, local Chambers of Commerce, businesses and third sector groups will be eligible to apply.
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In addition the new details reveal that the fund is open to any area identified in local authority development plans as a town centre.
Minister for Housing and Communities, Alex Neil, said: "Investing money in our town centres is a crucial part of this effort and we are clear that we want to see the whole of Scotland feel the benefit of this fund.
"We are looking for strong bids from all areas and all size of towns with a clear emphasis on partnership working, economic, social and environmental benefit. I would encourage any organisation who think they can meet this criteria to apply to the fund."
Alison Hay, COSLA's Spokesperson for Regeneration and Sustainable Development said: "I welcome the joint initiative to invest in town centres and breathe life into them. I look forward to the re-invigorated towns we will achieve by working with our community planning partners and other successful applicants."
Application packs and final detail on the assessment of applications to the fund are currently being finalised.
(GK/JM)
