It is being described as Mandurah's "most ambitious ever short-term economic road to recovery".
The Restart Mandurah agenda, approved at a special council meeting on Tuesday night, aims to stimulate the local economy following the outbreak of COVID-19.
The $5 million funding program will use cash transferred from a number of reserves to help the community get back on its feet.
Mandurah mayor Rhys Williams said it was time to open Mandurah back up for business.
"This is one of the most aspirational economic plans that the City has put together for a short-term injection into the local economy," he said.
"It's not going to be easy and there are a lot of challenges ahead for our economy but we'll be working alongside other community leaders and local businesses to create these opportunities.
"When there is economic growth in Mandurah, when people are spending more, that means more people are employed and our community benefits overall."
This is one of the most aspirational economic plans that the City has put together for a short-term injection into the local economy.
- Mandurah mayor Rhys Williams
More than $2 million has been allocated to accelerate a long list of City works, including upgrades to changerooms and toilet facilities, building shade sails and shelters and funding the Peel Community Kitchen.
Almost all of the projects are valued at under $250,000 to help local businesses apply for the work after the City also amended their procurement policy.
Mr Williams encouraged local businesses to "make the most" of the assistance.
"By increasing the tender threshold, local mum and dad businesses don't have to submit lengthy tenders to win the work," he said.
"Instead, it's based on a quote system and the business with the most competitive quote will be awarded the job so it's much more likely the small family operated businesses will win the work."
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An additional $4.8 million will be spent on a number of initiatives in the upcoming 2020/21 budget including a rate freeze for residents and extending the due date for rates until the end of November.
Businesses will also pay five per cent less rates than they did last year - an average saving of $500 per business.
As part of the last component of the Restart Mandurah program, a Strategic Economic Advisory Group will be established to help shape the post-corona plan.
A list of key economic and business leaders and stakeholders will be considered at the May council meeting.
Mr Williams said he was proud of the City's contribution to help "kickstart" the economy after the coronavirus crisis.
"Mandurah people have done the right thing, they've stayed inside and encouraged their family to stay away and now we're being rewarded for that," he said.
"We don't want to be complacent but we know we can safely start encouraging people to come back to enjoy Mandurah again and it is so nice to be able to say that."
