Decision details

The Director of Economic Development and Planning submitted a report updating members on the UK Shared Prosperity Fund which was launched by the Department for Levelling Up, Housing and Communities on 13 April 2022. The conditional allocation was £1,967,754 over a three-year funding period.

She informed committee that there were three investment priorities – Communities and Place, Supporting Local Business and People and Skills. To assess the allocation, measurable outcomes that reflected local needs and opportunities would need to be set out. There was also a requirement to work with local and regional stakeholders, civil society organisations, employer bodies responsible for identifying local skills plans, and businesses or business representative groups to achieve Fund outcomes in their areas.

The investment plan would need approval from the UK government following which the local authority would be responsible for its delivery. The DLUHC would make £20,000 available per lead authority to undertake initial preparatory work for submission of the plan in the summer.

The Director of Economic Development and Planning outlined the interventions that could be targeted based upon the nature of the Valley and previous work done in respect of identifying possible improvements. She also set out a suggested list of groups/people who could be involved to work with in the Partnership Group.

Members discussed the various aspects of the Fund, including frameworks, deliverability, priorities for Ribble Valley, possible schemes that could be supported and match funding for specific projects.

Councillor G Mirfin was given permission to speak on this item. He declared he was a Director on Lancashire County Developments.

RESOLVED THAT COMMITTEE:

1.    Agree to targeting the interventions as listed in the report for use of the UK Shared prosperity Fund to deliver local projects including capital schemes;

2.    Agree to the partnership groups attendees as outlined in the report, and

3.    Instruct officers to appoint consultants to undertake the initial work and engagement work in preparation of the Investment Plan.