A billionaire wants to invest £750m in rejuvenating the town centre.
Dr Laurie Marsh has been a successful entrepreneur for 65 years and now wants to create a charity foundation to help the town.
An interview with borough councillor Bob Wright on BBC Wiltshire revealed that the council has had the bid for quite a while.
He said: "What's really annoyed me, is that the council has sat on a multi-million pound from a multi-millionaire to rebuild the town re but its not gone forward."
According to BBC Wiltshire, Swindon Borough Council haven't given the go-ahead because they are yet to be convinced by the plans.
In the plans, there are reported to be blueprints for a University, a conference centre and a strip of canal with housing into the town centre.
One of the more outlandish ideas in the plan is a monorail for the town.
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