Mercer Clock will receive a £60,000 facelift after a Heritage Lottery bid was approved.
The 1921 clock, on Towngate in Great Harwood, was built to celebrate the work of scientist John Mercer, but has shown signs of significant weathering and stone damage.
The clock is in ‘good structural condition’ but has been affected by pigeon faeces and continuous water erosion in recent years.
A £30,000 funding bid was submitted by the council earlier this year in partnership with community groups and granted by heritage bosses.
The other half of the money will come from Tesco planning contributions.
Ward councillor Ciaran Wells said: “This is significant investment in the heart of our town and bringing back that civic pride.”
Regeneration officer Ian Marfleet told residents at Great Harwood area council meeting that the tower had turned green and looked ‘particularly horrendous’.
He said repairs would also be made to the clock face, which had become ‘badly deteriorated’.
Mr Marfleet said another part of the scheme would be to create more awareness of John Mercer’s lasting impact on the cotton industry. A teaching resource pack will be produced for schools describing the history of cotton manufacturing in the town.
A local artist will also be commissioned to work with pupils to recreate a small scale version of the clock tower in Plaster of Paris.
Their work could be displayed at the Haworth Art Gallery or another building in Great Harwood.
Mr Marfleet said: “We are working very closely with the Civic Society, Community Action Group and Regeneration Board to develop a whole series of presentation materials to educate people why that structure is there.”