Decision details

The Director of Economic Development and Planning submitted a report updating members on the Rural England Prosperity Fund.

She reminded members that on 3 September 2022 the Rural England Prosperity Fund (REPF) was launched. The fund was complementary to the UK Shared Prosperity Fund and was a top up available to eligible local authorities in England.

The Rural Fund was intended to fund capital projects for small businesses and community infrastructure and was integrated into the UKSPF. To access the fund there was a template to complete as an addendum to the UKSPF investment plan.

The Director of Economic Development and Planning referred to the LEADER programme and lessons learned from that process. She also informed members of the partnership group she had convened to discuss suggested interventions that the Council might support.

Members felt it was important to start planning projects in anticipation of receiving the funding as timescales would be tight.

RESOLVED THAT COMMITTEE

1.    Confirm the following interventions are supported – paragraph 8.3, 8.4, 8.5, 8.6, 8.7 and 8.8 outlined in the report.

2.    Note the participants of the Partnership Group which will be utilised to consider possible suitable options for the funding;

3.    Authorise the Director of Economic Development and Planning to submit the addendum to the UKSPF information sheet as outlined based upon members agreed interventions and a suitable spend profile, and

4.    Agree to include within the remit of the working group convened to consider our UKSPF allocation this additional funding stream. The Group will make recommendations back to Policy and Finance committee.