Thanet District Council (TDC) has moved to acquire Margate's Dreamland theme park site in Kent after it confirmed that a compulsory purchase order had been served.
Working in partnership with The Dreamland Trust, the council is planning to regenerate the and help establish a new tourist attraction for the seaside resort.
Margate Town Centre Regeneration Company currently owns the site, but TDC said that its efforts to secure the site had been unsuccessful and had prompted its latest move.
Funding for the regeneration project has been secured from the council, the Heritage Lottery Fund and the Department for Culture, Media and Sport.
However, support is dependent on TDC securing a long-term lease for the site. The purchase order covers the entire Dreamland site and the Grade II*-listed Dreamland Cinema.
TDC leader Bob Bayford said: "Significant funds are being invested in this project and we are not prepared to jeopardise that investment in the town."