Devon County Council members have voted in favour of going ahead with plans that could see more power transferred from Whitehall to Devon and Torbay.
The devolution deal, the details of which were announced by the Government in January, could see the creation of a new Devon and Torbay Combined County Authority (CCA).
The new body will receive £14.8m from the Shared Prosperity Fund over three years and £16m in new capital funding to support housing and net zero priorities.
If Torbay councillors vote in support of the deal at a meeting today, then a devolution bid will be submitted to the Department for Levelling up, Housing and Communities.