The news has divided the town's parliamentary candidates.
Warrington is set to receive £173,000 to ‘kick-start’ plans to regenerate parts of the borough.
The Government says the public will have the chance to write the next chapter for their towns thanks to the #MyTown campaign launched by communities and local government secretary Robert Jenrick.
It aims to give people a say in how a ‘new generation of town deals’ – each worth up to £25 million – should transform their areas.
Warrington has been selected as one of the areas but is awaiting further details.
Conservative Warrington South parliamentary candidate Andy Carter hailed the announcement and said it was ‘good news’ for the borough.
But Labour’s Warrington South parliamentary candidate Faisal Rashid, who is hoping to retain the seat, labelled it as a ‘pathetic pre-election stunt’.
The towns fund prospectus provides information to councils for 100 places selected to ‘pioneer’ town deals.
They will receive a share of £16.4 million ‘capacity funding’ to ‘kick-start’ their innovative plans, with Warrington in line to receive £173,029.
The Government says funding could be used to redevelop vacant buildings and land, drive private sector investment by supporting small businesses and ensure young people have the skills they need to get good jobs.
Communities will also be able to consider how they can ‘boost transport links’ and increase access to high-speed broadband.