ATTLEBORO - A long-awaited plan to revitalize downtown with transportation improvements, condominiums and new commercial space is now in the hands of the city council, which is under pressure to act quickly or risk losing key federal funding for the project.

Mayor Kevin Dumas submitted the urban renewal plan created by the Attleboro Redevelopment Authority to the council Tuesday, urging the panel to work with him, the ARA and the planning board to iron out final details and push the measure forward in what would be a massive effort to revitalize downtown after years of talking about the problem.

The project is vital to the city, Dumas said.

"This is the most sweeping and important public initiative in this city in over a generation," he said. "I've actively and enthusiastically supported it since I took office and will cooperate with the city council, the planning board and the Attleboro Redevelopment Authority to bring this plan to fruition."

If approved by the council and planning board, the plan would give the ARA authority to move forward with redevelopment of the riverfront district of downtown, a 26-acre swath on the Ten Mile River. Specifically, approval of the plan gives eminent domain powers to the ARA, which is crucial for the purchase or taking of private land needed for the project. The plan calls for the eventual construction of a new MBTA parking garage, GATRA bus station, hundreds of condominiums and new commercial space.

The plan would unfold in distinct, stand-alone phases over 10 to 20 years.

Currently, plans call for the city to embark on Phase 1A, which would cost $14.7 million and require a $2.4 million contribution from the city. The money will be borrowed. Phase 1A would among other things acquire all the needed land.

Dumas said language linking the loan specifically to the project and particular benchmarks still needs to be worked out before the city seeks the loan.

He hopes to work out the language quickly to help meet a goal set by U.S. Rep. James McGovern, D-Worcester, who said the city needs to move forward on the project or miss out on federal funds next year.

The city could also lose $10 million already earmarked.

A public hearing on the plan is scheduled for Feb. 20.

GEORGE W. RHODES can be reached at 508-236-0432 or at grhodes@thesunchronicle.com.