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Nearly £40m has been allocated in this round of funding out of the dedicated £60m fund with applications invited for a £20m second round to be shared out later this year.
It is estimated that the town centre projects will help support 640 jobs in Scotland.
Better retail, business, community and leisure facilities will be created, while many town centres will see public access and transport links improved. The funding will also kick start a number of town centre housing developments.
Housing and Communities Minister Alex Neil said: "Our aim is to turn round the fortunes of town centres - help them reach their full potential and support local economies. This funding encourages and supports dynamic public and private sector organisations to do that.
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"This is part of our wider economic recovery plan and we will continue to use every lever at our disposal to ensure Scotland gets through the economic downturn in the strongest possible position."
The £60m Town Centre Regeneration Fund was opened to applications in April with a deadline for bids of June 5.
Applications received after June 5 are being considered for a second tranche of funding to be announced in late October. Bids who did apply by the deadline and who did not receive an award in this tranche are also being encouraged to consider resubmitting their applications for the second tranche. The closing date for applicants to bid for a share of the second tranche has been extended to August 28.
A wide range of bodies including local authorities, Community Planning Partnerships, Business Improvement Districts, Town Centre Managers, local Chambers of Commerce, businesses and third sector groups are eligible to apply.
Towns to benefit include Stonehaven (£181,500), Fraserburgh (£255,000), Tarbert (£984,500), Alloa (£2,000,000), Lochee (£2,000,000) and Cumnock (£749,000).
(GK/KMcA)
