Mrs Buchanan has been appointed chair of the Burnley Long Term Plan for Towns board, a body of leading local representatives from the public, private and voluntary sectors that will shape the vision for the future of the town and the investment plan.
The town board will be community-led, with engagement with the public a top priority.
Last October, Burnley was announced as one of 55 towns across the country selected by the Government to benefit from the Long Term Plans for Towns scheme.
Burnley will benefit from funding and support of up to £20million to develop a long-term plan for the town.
Mrs Buchanan said: “I’m delighted to have been invited to lead the LTPT Board, recognising the important role Burnley College plays in our town and its future prosperity.
“This is an exciting time for Burnley. We have a great opportunity, as stakeholders, to work together to make our wonderful town the very best it can be now, and for future generations.
“As the number one college in the country, in the Government’s national achievement rate tables, Burnley College is instrumental in attracting the very best students to the town and, as an LTPT, we’re determined to make it a place they want to stay and develop successful careers.”
Councillor Afrasiab Anwar, leader of Burnley Council, said: “I’m delighted to have Karen on board as we enter the next new and exciting phase of Burnley’s development.
“She has a clear passion and commitment to the town and the wider borough and is a respected and experienced leader, just the kind of person we need to help lead the town board and ensure that any investment is effective and creates really positive results for residents and visitors alike.”
Burnley MP Antony Higginbotham said: “It’s brilliant to have secured another £20million for our area. But it’s important that this money is directed to where it will make the most difference.
“Karen has a proven track record of delivering results. Taking Burnley College to the top spot in the country and expanding the opportunities on offer to young people within the borough show she has what it takes to drive improvements.
“That’s why somebody of Karen’s calibre has my full support as chair of our town’s board. I look forward to working with her to continue my mission to Level Up our area.”
The town board is set to submit its long-term plan for Burnley to the Department for Levelling Up, Housing and Communities (DLUHC) by August 1.