Kingdom FM Grants are going to be made available to groups and organisations in the Levenmouth area this summer.
Councillors have agreed the process of awarding money from the £10 million Levenmouth Reconnected fund.
The programme will link a range of local initiatives - including the reintroduction of the Leven rail link and the Leven Programme - in an attempt to maximise the economic regeneration and social benefits they will bring to the area.
Community groups, social enterprises or businesses applying for a grant will need to show how their work will contribute to these aims and local priorities.
The application process will open in early summer.