The local authority is trying to secure £35 million of funding so it can make 800 affordable homes available to rent over the next five years.
Falkirk Council wants to create an extra 38 new homes in Bo’ness and 14 in Whitecross through new-builds and buy-backs.
As part of a consortium bid on behalf of itself and other social landlords, the council is looking for the cash injection from the Scottish Government to add to the £55 million provided by the bidders, which include Weslo Housing Management, Kingdom Housing Association and Link Housing Association.
The council aims to provide 562 homes across the district – 202 new-build and 360 buy-backs, where the council purchases former council homes back into social ownership.
Housing spokesman Councillor Gerry Goldie said: “Making new and affordable homes available locally is a big priority for us and this ambitious bid, if successful, will see nearly 800 properties available for social renting across the Falkirk area.
“We are already in negotiations with the Scottish Government to ensure we get the best deal for residents and deliver housing where it is really needed. Combining our resources with other social landlords ensures we maximise the bid and get the most out of our application for communities.”
The Scottish Government did not respond for comment as the Journal went to press.