Hartlepool Council is hoping to prepare a bid for more than £100m of government funding for schools across the borough.
The council's children's services department has identified two funding schemes which can be tapped into.
However, before the council puts in a bid it must demonstrate it is ready to deliver the massive programme.
The cabinet will now be asked to approve the creation of a bid, which could have enormous benefits for schools across the region.
'Good opportunity'
The first - Primary Capital Programme - is due to begin in 2008/09 and will run for 15 years. The key aim is to rebuild, remodel or refurbish at least half of all primary schools.
The second, and much bigger, programme for secondary schools is Building Schools for the Future (BSF) which was set up in February 2003.
Councillor Pamela Hargreaves, the Council's cabinet member for children's services, said: "This is too good an opportunity to pass by and I am certainly in favour of pursuing funding from these initiatives.
"It is a once in a lifetime opportunity and our responsibility as elected representatives is to bring our schools up to the standards that the young people of our town deserve."