The bids focus on town centre regeneration and improving transport connections, with the aim of creating a 'better borough' for people to live.
It comes after Shropshire Council made a second bid for £104 million to pursue four projects across the county in Craven Arms, Oswestry, and Shrewsbury.
Now, Telford & Wrekin Council has put in a bid for a slice of the Government's £4.8 billion Levelling Up Fund, which will go towards the regeneration of centres and improving connections between homes and places of work.
Councillor Shaun Davies (Labour), Telford & Wrekin Council Leader, said: “The council is committed to protect, care and invest to create a better borough.
"We recognise that there remains an urgent need to address the inequalities that exist in our borough and to ensure that everyone benefits from a strong economy, lives well and can fulfil their full potential.
"Our £44 million ‘On Your Side’ investment programme reflects our local commitment to levelling up.
"In submitting these bids we are working within the Government guidance to support the regeneration of our centres and to improve the connections between homes and employment, increase opportunities for walking and cycling and improve public transport.
"While we welcome the opportunity to bid we are disappointed that Government has not recognised the urgent need to invest in our older estates.
"We will continue to lobby Government for more funding to match our investment in to these communities particularly our south Telford estates."
The bid includes investment to improve the Oakengates theatre for the purposes of greater diversity of shows.
It also includes a bid to extend the new education offer being developed at Station Quarter, which will create more opportunities for young people to study in the town centre and to create more opportunities for community events and activities centred around a new public square.
A bid for Wellington will build on the success of the Council’s Pride in Our High Street investment, with improvements to the historic centre, including the market and Market Square.
A package of transport measures propose improvements to the Silkin Way as a key pedestrian and cycle route and investment into improved public transport connections across the borough, including to employment sites.
Meanwhile, Shropshire Council has said it feels 'optimistic' about receiving Government support for the county.
Councillor Ed Potter, Shropshire Council’s deputy leader and cabinet member for economic growth, regeneration and planning said: “We were disappointed with the earlier decision but had useful feedback and have put a lot of work into the bids.
"We are realistic and always optimistic about our chances. We have support from Shropshire MPs.
"I am so pleased that we have submitted these four projects for funding again following approval by cabinet in June.
"If successful, they will help with our economic plans, boost infrastructure and benefit our communities for years to come."