A public consultation will be seeking feedback on the proposals for a Greater Lincolnshire combined authority.
The first deal includes a single pot of £450m of investment funds, which will be £15m per year for 30 years, in addition to these devolved powers.
The government has made clear that a Mayoral Combined Authority would be required in order to implement this deal.
Members of the 10 councils involved will now see more detailed proposals outlining the governance structure and functions that a mayoral combined authority could have, and will be asked to approve a public consultation on these proposals, which would begin no later than July 4.
A public consultation will be held at the West Lindsey District Council offices in The Guildhall, Marshall’s Yard, on Wednesday, May 25.