Two projects in SE1 are in the running for funding from Lambeth Council as part of the borough's 'Your borough, your budget, your choice' scheme to allocate £250,000 to schemes chosen by residents.
There are four categories in the scheme, with funding for projects worth £100,000, £75,000, £50,000 and £25,000. Anyone living in the borough or attending a Lambeth secondary school can vote.
"This is a great way for people to get involved in local services," says Cllr Paul McGlone, Lambeth's cabinet member for finance and resources.
"Your borough, your budget, your choice puts residents at the centre of the decision making process and gives them a direct say about projects in their area.
"We want as many people as possible to take part and vote for the projects they think most deserve to be funded.
"Last year's choices have helped to improve local areas and this year promises to do the same again.
"It's easy to vote and you could make a real difference to one of the great projects in the shortlist."
Waterloo Action Centre is the only organisation in the competition providing activities for older people and the only organisation providing free general advice and free legal advice.
Founded in the former Waterloo Library in 1974, WAC is now used by 18,000 people a year for a wide range of activities and meetings.
The building is now in a poor state and winning the £50,000 grant would help WAC to repair the roof and ceiling to bring part of the building back into use, install a proper dance floor in the main hall, soundproof meeting rooms to prevent users disturbing others, modernise the toilets and purchase equipment for sports, music and computer activities.
The school was founded in 1915 following the inquiry into the sinking of RMS Titanic in 1912.
With the centenary of the Titanic disaster approaching, the school has been working with the Bankside Open Spaces Trust to design a garden for both school and community use.
The garden would include vegetable plots, seating and a wildlife area. Local residents will able to use the garden to relax and there will be raised growing beds to allow easy access for disabled users.
The funding would allow the school to lay the groundwork and purchase the necessary equipment to create the Titanic Community Garden.
• Lambeth residents can find out how to vote at www.lambeth.gov.uk/yourchoice
• The closing date for votes is 1 December 2010