East Northamptonshire Council has agreed to additional cash of up to £7m to finance the centre in Manor Park, Rushden, on top of £4m it has already allocated.
Provisional funding of £2m has also been confirmed by the North Northants Development Co
mpany and a bid has been submitted to Northamptonshire Enterprise Ltd for £800,000.
The complex, including a swimming pool, will replace the town's existing pool and Pemberton Leisure Centre, which in turn will allow sites in Duck Street and HE Bates Way to be used for regeneration.
The project is a joint venture between the district council and Rushden Town Council and is the first major scheme as part of the town's regeneration.
Town council leader Colin Wright said: "It is great news that the council has committed £11m to the project. It shows there is a big commitment from the district council in order to push this ahead.
"We hope we will be able to obtain additional funding to enhance the facilities as we cannot afford to let this opportunity go by.
"It is very exciting receiving the funding and seeing what is going to happen next in terms of the design.
"The project is moving forward quite nicely. This is a massive part of the regeneration programme but we must remember the leisure centre is not just for Rushden but for the whole of the district."
Earlier this year the district council put out a tender for architects, engineers, quantity surveyors and project managers who will be responsible for the project.
Mace have been chosen to lead the project management services and the design team will be from FaulknerBrowns.
Since April last year, site investigations and area assessments have been carried out. According to the findings there is a need for the new facility and the site is suitable for redevelopment.
Concerns have been raised about the positioning of the leisure centre, but Cllr Wright said because of the sheer size of the development it was not practical to have it in the town centre.
He is hoping work will be completed by the summer of 2011.
On Monday the policy and resources committee at East Northamptonshire Council will be discussing the progress made so far and future developments.
Residents and organisations will be able to see detailed design plans later this year.
