A fundraising effort to restore the clock began in 2003

The project to raise the �230,000 needed to restore Redcar town clock started in 2003.

It has received �148,5000 from the Heritage Lottery Fund and �20,000 from the Northern Rock Foundation meaning it is now �30,000 short of the target.

The King Edward VII Memorial Clock is a Grade II listed building and was erected by public subscription in 1913.

Redcar and Cleveland Council cabinet member for environmental improvement Councillor Bob Stanway said: "These are major steps forward in our commitment to restoring the clock.

"The clock has a long, proud history and restoration work will return an important local landmark to its former glory.

"It will also play an important role in engaging communities and helping them to learn more about their local heritage."

He now plans to meet council officers to find the remaining funding.

A series of heritage, arts and educational events are being held to increase community involvement in the project.

When the fundraising started in 2003, The Friends of Redcar Town Clock raised �10,000 selling �1 "paper bricks", matched by the council and another �11,000 came from West Redcar Single Regeneration Budget.