The funding will be used to carry out site investigation and assessment work to inform plans for redevelopment as well as clearing debris and current structures in a bid to attract investment and get the site back into use as a major leisure attraction.
Councillor Mazher Iqbal, executive member for development, culture and regeneration at the council, said: “We recognise the vast potential that Parkwood has to offer in Sheffield, both as a major tourist attraction for the region and as a site that will be central to contributing towards improving the health, lifestyle and opportunities for local people.
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“We can’t get away from the fact that this is a challenging site with many complex issues, but we’re ready to meet the challenge and work to secure the future of Parkwood for years to come.
“These initial steps are crucial in assessing the work to be done at Parkwood so that we can move forwards and deliver for the people of Sheffield.”
Following the initial £200,000 injection, the council will work with partners across the region to secure further funding.
What are the plans for the old Sheffield ski village?
The council’s masterplan for Parkwood Springs is to make it the city’s active country park by 2028 through developing infrastructure for walking, cycling, running and observing nature.
In a vision statement it said: “It will be a clean and welcoming open space that offers extreme sports, recreation, peaceful walks and a range of events and activities across the whole site.”
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On the ski village site, the council is in discussions with Skyline Luge, a New Zealand based company which specialises in outdoor adventure experiences with sites across the world, about its plans for a family orientated leisure destination.
This follows termination of a contract with Extreme to create a modern ski slope, mountain bike trails, a hub and visitor accommodation after the company failed to deliver key milestones and the project was deemed not viable.
The plans will be discussed by the council’s co-operative executive on December 15.