Council bosses have set aside £100,000 to draw up feasibility plans for the future of RAF Scampton.
As previously reported, West Lindsey District Council bid to the Greater Lincolnshire One Public Estate Board last year for funding for the project.
Backed by Lincolnshire County Council, the authority proposed £150,000 in order to fund a 15 year plan for the base.
Now, district council leader, Giles McNeill, has said that money has been secured to press ahead with the plan.
He said: “We are still waiting for more information from the government on how and when they will be proceeding with their plans for RAF Scampton.
“In the meantime, £100,000 has been allocated to look at feasibility options for the future of the site, with partner organisations.”
The Ministry of Defence confirmed the closure of the base in 2018, throwing the future of the site and the Red Arrows into doubt.
Under MoD plans, the base will close by 2022.
County council leader Martin Hill said at the time that it was “vital” that a sensible plan was found for the site.
In September 2018, councillor Hill ruled out any housing project, such as a village, being built on the base.
He said: “The RAF have said they are going to depart the site and it’s important from a council perspective that when that happens the future is a viable one, which is acceptable to us and the public.
“I think there is no prospect of large housing or a big village going there because it is not achievable in the local plan.”
Campaigners launched a petition last year to save the base and called on the government to reverse its decision.
RAF Scampton is currently home to around 600 members of staff, including service personnel, contractors and civil servants.
The base became host to 617 Squadron (more widely known as the Dambusters), which was established in 1943.
From here, they flew the most famous mission, operation Chastise.
RAF Waddington is on the shortlist of sites where the team could be relocated.