The fund would support projects of long-term benefit to the community with materials, equipment and other expenses.
"We are imagining that the average level of financial support will be around $5000 per project; however, groups can apply for more or less than this with the maximum allocation to any one group being $20,000 per year for no more than two consecutive years," Welch said.
Applicants need to be a legally constituted and registered community group or organisation, such as a not for profit, charitable trust or incorporated society, that has community development and capability building as a core function.
"They will also be required to report to their community board or ward committee on their project each year they receive funding," Welch said.
"If anyone is involved with a group that has a township beautification or enhancement project in mind needing a little bit of financial support, we would encourage them to put in an application.
"It is all about having ongoing conversations and seeing where council and communities can work together in support of their aspirations."
Applications for the first round of Pride of Place funding close on October 31.