THE glittering prospect of regeneration cash could be within Guisborough's grasp.

Townspeople heard on Tuesday that efforts already made had put Guisborough at the forefront of a pioneering market towns initiative.

Nearly 100 people packed into Sunnyfield House community centre to hear about action to make the most of the town's selection as a pilot for the scheme. Residents queued up to give their views on a range of issues.

Now a steering group will collate the information to formulate an action plan.

Stephen Whitehead, joint chairman of Guisborough market town initiative, told the meeting: "This is really important for Guisborough. Many terrific things are going on and we should be proud of ourselves already."

The initiative is being spearheaded by the Countryside Agency, which sees a new role for market towns in the 21st century. The agency thinks towns can retain their character while responding to the challenges of a rapidly-changing world.

A steering group was formed and this is now looking at ways to promote Guisborough, chosen to pilot the idea before it is extended elsewhere.

Mr Whitehead, principal of Prior Pursglove college, said the agency wanted to encourage the government to put money in Guisborough's direction.

"We have a strong case because the community has already shown it can deliver the goods," he said. "Now we have the chance to show we can deliver even more."

Russell Hayward of the Countryside Agency said: "Guisborough is the guinea pig but it could open the door to a lot of money coming into the town.

"If we see the right level of commitment there are projects we would be happy to fund."

The pilot will develop into a much bigger initiative involving up to 12 North-East towns which have yet to be named.

Mr Hayward said Guisborough was chosen because it represented a cross-section of towns.

One spin-off could be the appointment of someone to work in the town to pull together community work and projects.

"There is cash for schemes which really will make a difference," he said.

The meeting was attended by most of the steering group and councillors.

Coun Valerie Halton sounded a warning note when she said: "There is one thing missing tonight and that is young people. We have to think about how we can involve the young in this."

Mr Whitehead agreed and said his own college and Laurence Jackson school had had group meetings on the initiative.

The meeting was split into four discussion groups headed by steering group members to look at different aspects of the town: travel and access, the local economy, the environment and social and community.

After the meeting, joint chairman Ruth Thompson said much of the information on questionnaires had a common thread.

"That is good because it will make forming an action plan much easier," she said.

"The feedback was positive and everyone thought the meeting had been informative.