Agenda item

To receive a report from the Director of Place and Economy on the Shared Prosperity Fund (SPF) and Rural England Prosperity Fund (REPF): 2024/25 Closure and 2025/26 Delivery

Cabinet had before it a report * from the Director of Place and Economy on the Shared Prosperity Fund (SPF) and Rural England Prosperity Fund (RESP) and the 2024/25 Closure and 2025/26 Delivery.

The Cabinet Member for Planning and Economic Regeneration outlined the contents of the report with particular reference to the following:

• The previous Government launched the UK Shared Prosperity Fund (SPF).  Those funding sources replaced funding previously available under the European Structural and Investment Funds.
• The successful delivery of the previous SPF and Rural England Prosperity Fund (REPF) programme between 2022 and 2025 was particularly pleasing given that there were significant delays in the previous Government issuing confirmation of funding which substantially reduced the window for delivery. Clearly, despite short lead in times to delivery from the original Government announcements and the diversity and volume of the grants given, the performance on spend and utilisation was exceptionally strong at 99% spend of the REPF programme and 95% of the SPF programme.
• The high percentage of delivery reflected the hard work and effort invested by the Economic Development Team in proactively managing spend, identifying challenges and slippages and ensuring re-allocation of returned or unutilised funding.
• In autumn 2024 the Government would offer an additional year of Shared Prosperity Funding; subsequently it was announced that there would also be an additional year of Rural England Prosperity Funding.  This funding now flowed to upper tier authorities, being administered by the County Council on behalf of the Combined County Authority – although it had been agreed that delivery would continue to principally be directed through the District Authorities.
• The Delivery Plan proposals were developed in consideration of the Council’s Corporate Aims and Strategic Objectives, drawing also from the previously prepared investment plans submitted to the Government at the beginning of the UKSPF programme.  Some projects were proposed to be taken forward by the County Council and others by the District Council.  Those proposals had been the basis of the County Council’s submission to MHCLG.
• There were a number of restrictions with regard to these funding streams. Importantly funds needed to be spent and projects delivered by 31st March 2026. There was therefore a very short window for delivery from a relatively standing start, which was particularly challenging for projects that needed other approvals such as planning permission.  Mindful of the need to turn around schemes quickly, it was proposed that a small grants panel be established on the same basis that the existing Shopfront Enhancement Schemes were currently assessed and as set out within the report. It was proposed that this panel would be able to convene quickly and would determine grant funding requests up to the value of £30k.

Discussion took place with regards to:

• Those able to apply for funding and the rules around this.
• Some grants required those to bid for them that were complicated, would the Council be able to support those that need help?
• To have more robust communication about the funding to ensure more people were made aware.
• The concerns about the lack of local Members on the funding panel.
• Would the Ward Members be informed to support the application?

RESOLVED that:

1. The proposed Delivery Plan for 2025/2026 of the Shared Prosperity Fund (shown in Appendix 1) be APPROVED.
2. The proposed Delivery Plan for 2025/2026 of the Rural England Prosperity Fund (shown in Appendix 2) be APPROVED.
3. Delegated authority to the Director of Place and Economy, in consultation with the Cabinet Member for Planning and Economic Regeneration, to make non material changes to the Delivery Plans as required to ensure timely delivery be GRANTED.
4. Delegated authority to a panel consisting of the Cabinet Member for Planning and Economic Regeneration, the Director of Place and Economy, and two members of the Economic Development Team to determine grant funding requests under £30k be GRANTED.

(Proposed by Cllr S Keable and seconded by Cllr J Lock)

Reason for Decision:

The report refers to external funding of £275,813 of UKSPF funding and £244,959 of REPF funding which had been allocated to the District Council based on a formulaic approach. This funding needed to be spent this financial year. The proposals for this financial year had been developed to maximise opportunities for certainty of spend.

Note: *Report previously circulated