The lottery fund has agreed, in principle, to award the group £1m
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A 17th Century water mill which was once the centrepiece of a village is set to undergo an £8m renaissance.
Bromham Millers hopes to revitalise the heritage of the Grade II listed mill in Bromham, near Bedford, with a series of developments over the next four years.
It is also aimed at providing work, learning and leisure for the community - especially for people with learning disabilities and autism.
The government has agreed, in principle, to award the group £1m.
John Myers, vice-chairman of the Bromham Millers says the group aims to "strengthen, conserve and manage the cultural and natural heritage" of the mill set on the Great River Ouse, which dates back to Saxon times.
Mr Myers said: "The mill was once at the centre of the village. It is on a five-acre meadow - with the old mill and two barns, which are also Grade II listed.
"But it is now only open to the public on Sundays in the summer so we want it to undergo a renaissance."
There are plans to re-equip the mill so it can produce organic flour, which will then be used in an organic bakery and sold at a farmers market. There are also plans to provide a waterside cafe, a restaurant and guest rooms, and to build a centre for conferences, weddings and concerts on the site.
If successful about 300,000 people will visit the mill by 2013
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The group also hopes to set up an educational resources centre on the site, providing diplomas and life-long learning skills.
It will also create jobs for people with learning difficulties and autism.
"In Bedfordshire there are about 5,000 with a disability or autism - 90% of whom are unemployed. They are the most deprived group in the county," Mr Myers said.
"If we can provide a couple of hundred jobs for this group it will be worth about £10m a year to the county."
He stressed the project was a long-term development which would require about £7.5m to be raised.
"If it is successful about 300,000 people will have visited the mill by 2013," Mr Myers added.
Bromham Millers won a bid for tender of the mill in 2005. The group then produced a detailed business strategy and have since then worked with Mencap to raise funds.
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