Buxton Festival regulars may finally see evidence of progress on the Crescent project when they return to the town this summer.

Private sector partners in the scheme – the Trevor Osborne Property Group, CP Holdings and Danubius – invited tenders for a £2 million enabling contract late last year.

Now they have earmarked July 1 for the start of the contract, clearing the way for the main 18-month regeneration project. If everything goes to plan, the five-star spa, 79-bedroom development wil be open in time for the 2013 opera festival.

However, the start date will depend on the outcome of a £5 million bid to the new £1.4billion Regional Growth Fund, which has been backed by the region’s new Local Enterprise Parthership.

The application is one of four endorsed by the LEP, which is made up of representatives from the private sector, chambers of commerce, universities, Derbyshire and Nottinghamshire county councils and Derby and Nottingham city councils.

Derbyshire County Council is also a public sector partner in the Crescent project, alongside High Peak Borough Council.

The funding is needed to replace a £5 million contribution from the East Midlands Development Agency, which is to be wound up. A decision on the bid is expected by the end of March.

The remainder of the original £32.4 million funding package, including a £12.5 million Heritage Lottery grant, is still in place.