The council needs an additional £12m to fund the project, expected to cost £29.4m in total.
The Carrington Relief Road is intended to take traffic away from the narrow A6144 Carrington Lane and Manchester Road, alleviating congestion, and boosting network capacity to unlock future development in the Carrington area.
Trafford Council has already received £17.3m for the project and is preparing bids to the Levelling Up Fund and the City Region Sustainable Transport Fund to make up the shortfall.
To date, the council has received grants of £6m and £8.4m from the Growth Deal fund and Housing Infrastructure Fund respectively. Further Section 106 contributions from forthcoming developments amount to approximately £2.8m, according to the authority.
The search for additional cash follows the selection of a preferred route for the Carrington Relief Road.
The preferred route would see a new link road built between Isherwood Road and the Banky Lane junction of the Carrington Spur close to Junction 8 of the M60, cutting through Green Belt to the east of the former Shell petrochemical works.
In addition, the council proposes investing £1m to create active travel routes along the existing A6144 Carrington Lane.
Much of the land to be used to facilitate the link road is owned by developer and land owner Himor Group.
Himor is developing Future Carrington, the redevelopment of the 1,665-acre former Shell petrochemical works.
In total, Future Carrington could deliver 11,500 new homes and 8m sq ft of employment development over the next 20-30 years.
Trafford is asking its executive to sign off on the preferred Carrington Relief Road route at a meeting next week.
The link road was chosen over another shortlisted option that did not include the construction of a link road.
This option would have seen the A6144 Carrington Lane widened. However, it was discounted by the council because it would not have been able to deliver the required capacity increase.
It is hoped the road will unlock several development sites in the area outlined in the Greater Manchester strategic joint plan.
The Carrington, Partington and Sale West area has been identified as a significant development location in the Places for Everyone 2021 plan.
The area is proposed for approximately 4,300 homes in the plan period to 2037, and around 3.7m of employment floorspace.
Elements of the aforementioned Future Carrington already in the works include Heath Lane Farm’s £100m residential development in Partington.
The joint venture between Galliford Try and housing association Trafford Housing Trust plans to deliver 600 homes in total.
In addition, BlackRock UK Property Fund and Canmoor are to deliver five industrial units totalling 670,000 sq ft off Common Lane, a scheme known as Voltage Park.
Last year, Eric Wright Group completed the first phase of Future Carrington, Carrington Gateway. This comprised a 212,000 sq ft employment park let to occupiers including Hilti.
Plans for Carrington Village, 320 homes and almost 700,000 sq ft of employment space, across 67 acres, were approved last May.