Knowsley Council's leader has slammed 'years of private sector failure' for leaving one Merseyside town without a fully-formed centre.
The council announced last month that it would put in a bid to buy back Kirkby town centre from developer St Modwen.
Numerous regeneration efforts in Kirkby have been cancelled or delayed for more than a decade.
Speaking at the council's cabinet meeting yesterday, councillor Morgan said: "We are looking to intervene directly in the regeneration of Kirkby town centre - after years of failure by the private sector, we have said that enough is enough and that's why we are currently in talks with St Modwen with a view to buying them out of Kirkby so that we can deliver the scheme which residents have been promised by so many private sector developers."
If the council's move to buy the town centre is successful it would give the local authority unprecedented control over regeneration in Kirkby.
The council leader also hit out at "rumours and fake news" about the planned purchase of the town and promised the council would release more information about it when possible.
Previous unsubstantiated rumours about the town have included claims that it would soon house a nuclear power station, a prison and a sewage treatment facility.
Councillor Morgan said: "While the negotiations are ongoing, we can't give a daily commentary, because that is not how private sector businesses work - they want their commercial business to be kept confidential and we have to respect that.
"So we have to keep our nerve and ignore the various fake news and rumours which might be going round - when we have something to say, we will say it. But rest assured, colleagues, we will get it right and we will achieve the right thing for Kirkby."
Developer St Modwen has got planning permission to redevelop the town centre - but despite the land being cleared last year the company has refused to name a start date for construction.
Home Bargains, Morrisons and KFC are among the retailers that have signed leases to occupy that development.
St Modwen bought the town centre from Tesco in 2015.
When Tesco owned the site it was the focus of a plan for Everton's new stadium and a shopping centre surrounding it.
But despite getting permission from the council, that plan was later scuppered by government regulations and the town centre was sold on.
