The cash will be ploughed into maintenance – including road repairs, looking after verges, cleaning signs, emptying drains and gullies, refurbishing bus stops and improving rights of way.
The money will also be used to fund more flashing signs, supporting average speed cameras and other measures to deter speeding drivers.
The cash injection also includes a £25,000 pot for every county councillor, enabling residents to get involved in influencing the improvements they want to see where they live.
The money could be spent on a wide range of options, such as flashing signs to reduce speeding, flower beds and benches, as well as minor road repairs and freshening up signs and lines.
Cllr Nick Rushton, the county council’s leader, said: “These proposals are a welcome boost.
“Our roads and pavements are at the heart of our communities so it’s important we invest.
“And we know the impact speeding drivers can have on residents.
“By further supporting our average speed camera work and bringing in more signs to combat speeding drivers, we can make a real difference.”
He added: “This is also about improving green spaces in our communities.
“Planting flower beds and protecting verges not only adds to an area’s visual appeal but would also boost our efforts to tackle climate change as well as protect and enhancing biodiversity.
“Importantly, this plan would enable residents to get involved in shaping their community.
“Every area has different challenges and by working with their county councillor, residents could tailor improvements to tackle different issues.”
The £5 million investment includes:
• £2.2 million for highway maintenance – managing grass verges, improving road signs and lines, revamping bus stops, improving accessibility to our rights of way
• £1 million to cut speeding in communities - flashing signs, traffic calming and supporting our average speed camera work
• £1.4 million to boost local areas – smaller scale improvements that enhance communities.
The proposals will be discussed by the council’s cabinet on Tuesday June 22.
You can watch the meeting online here: www.leicestershire.gov.uk/webcast