A festival was awarded an unprecedented £6,000 towards costs at a council meeting last night.
The grant was awarded to Woodford Festival Association by Area 2 Committee last night.
This is the most the council has pledged to the festival, which did not go ahead last year due to lack of funding.
It is scheduled to take place between October 4 and October 12, with events throughout South Woodford and Woodford Green.
The festival will feature live music, art, poetry, drama, dance, film, theatre, quiz nights and beer festivals.
Anny Wortley-Millek, festival co-ordinator said: "This generous grant will go a long way to cover the costs of this ever growing, popular community festival.
"It is good to note that in this time of austerity and cutbacks, the council still feels able to support their community in celebrating the wealth of talent that exists locally by helping to fund the Woodford Festival."
Conservative councillor Linda Huggett said: "It's great to get local residents involved and we should be fully support them. It is very well run and has a very enthusiastic team behind it. We are wholeheartedly supporting them in what they do."