The outcome of a multi-million-pound funding bid to create a state-of-the-art museum in Rutland should be known in two months. 

Rutland County Council has applied for a £4.9m bid from the National Lottery Heritage Fund to help revamp the existing Rutland County Museum so that it can house the prehistoric icthyosaur 'sea dragon' fossil unearthed at Rutland Water in 2021. 

Cabinet member for economy Rosemary Powell (Independent) gave an update on the project at the full council meeting on Thursday (July 10). 

She said: "The outcome of this application will be known in September and if successful, the grant terms and conditions will be subject to acceptance by full council. 

"The grant includes provision for additional fundraising capacity, which will be absolutely crucial to achieve the levels of funds necessary to fulfil the full ambition for this exciting project." 

Altogether the project is expected to cost around £7.6m, with the council having around £2m from levelling up funding to contribute. 

Earlier this year it put £170,000 towards technical works for the scheme. 

The proposal involves adding to the existing building in Catmos Street, Oakham, with a large extension. Alongside the nationally important fossil, a digital exhibition of the Roman mosaic found at Ketton will also be shown. 

However, if the lottery bid is unsuccessful the project could be mothballed and the Liberal Democrat run authority has previously said closure of the museum could not be ruled out.