The money – hailed by community leaders as the "answer to people's dreams" – comes from West Yorkshire Police Authority which has decided to allocate every penny of a £20,000 hand-out from the Home Office to the Airedale area.

Airedale and Ferry Fryston neighbourhood management board, which will oversee the spending, is inviting bids from anyone in the community for some, or all, of the cash before local residents then vote on where the money should be spent.

Insp Ian Williams, of Castleford neighbourhood policing team, is a member of the board, along with representatives from Wakefield and District Housing, the local Primary Care Trust, schools and members of the public.

He said: "Because we have the management board set up, the authority decided we were the right structure to take the money and distribute it to those who would use it best.

"Our priority is youth issues in this area – what everyone loosely terms as youth nuisance and anti-social behaviour. But for everyone who says they have a problem with youths, another person will tell me there's nothing for them to do.

"People have an appetite to get involved though and I think this money will be the catalyst for people getting out there and doing something for their area."

Bids can come from groups or individuals and can include anything from a few hundred pounds for fishing equipment or a big project which requires all of the £20,000.

Mike Dixon, chairman of the neighbourhood management board, said: "It's an exciting time. The people in Airedale have the wonderful chance to see what they finally want for the youths in the area and it gives the youths a positive voice. It's a unique opportunity for Airedale and will be the answers to a lot of dreams I should think."

The board invited some teenagers to their meeting on Monday to break the news and find out their reaction.

George Smith, 13, of Gypsy Lane, said: "It's great. It could totally regenerate the Airedale area and make it a better place for everyone. Where I live, there is nothing for us to do."

Marcus Pereira, 14, of Ambleside Road, said: "The money would help both the youths and residents. It could get the youths away from residents which residents would be thankful for.

"Not everyone wants to play five-a-side football, or snooker or boxing. I think there should be more of a range of opportunities on offer for us.