Onchan commissioners say they want to borrow £250,000 to improve street lighting in the village.
The board has applied to the Department of Infrastructure for permission to borrow the cash over a 20-year period.
It says it wants to improve street lighting on Turnberry and Wentworth Close, King Edward Road, Howe Road, Links View and Manor Park.
Residents have until December 27 to comment on the proposals.
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