Residents are being asked what kind of watersports they would like to see on Stanley Park lake as part of a study into the future of the beauty spot.
Blackpool Council has secured the grant from the government’s Coastal Communities Fund to pay for research.
Meanwhile some of the money will be used to investigate the possibility of additional watersports at the park, such as windsurfing or open water swimming.
As part of the initiative, the council through its Facebook page has asked people what they would like to see introduced.
Coun Maria Kirkland, cabinet member responsible for parks and leisure, said: ''We secured funding from the Coastal Communities Fund and are now currently undertaking two studies at Stanley Park.
''One is an ecological study which is looking at issues such as the pond weed in the lake and possible dredging solutions whilst ensuring the wildlife, natural plant life and vegetation is protected.
''The other study is looking at the potential opportunities of enhancing the range of waters sports based activities that could be offered on the lake.
''These could possibly be activities such as sailing and windsurfing. Specialists are looking into the experiences of other places in the country to better
understand if such activities would be viable at Stanley Park.''
The council hopes to have gathered all the feedback in the coming weeks.