Issue - meetings

UK Shared Prosperity Fund

Meeting: 13/06/2022 - Overview and Scrutiny Committee (Item 163)

163 UK Shared Prosperity Fund pdf icon PDF 258 KB

To consider the attached report of the Head of Investment, Growth and Tourism.

Minutes:

The Head of Investment, Growth and Tourism remotely presented by Teams the report on the Shared Prosperity Fund.

 

The Strategic Place, Tourism and Town Centre Manager was present at the meeting.

 

Members were advised that the UK Shared Prosperity Fund (UKSPF) was the Government’s domestic replacement for the European Structural and Investment Programme. The funding has been allocated to local authorities using a formula and Dover District Council had been awarded the lowest payment of £1,000,000 over three years, with the largest proportion of the funding received in the final year.

 

As part of the UKSPF, the Council was required to:

 

(a)  work with local stakeholders to create a local partnership group;

(b)  consult with MPs requesting them to provide an advisory role and to invite them to be part of the local partnership group;

(c)   have an open call for projects; and

(d)  submit a local investment plan by 1 August 2022

 

The funding was dependent on the local investment plan getting approval. If successful it was expected that the initial funding would be received in the autumn. The Council had developed a draft investment plan for consultation with local MPs and stakeholders prior to the ‘open call for projects’ and stakeholder engagement.

 

The Head of Investment, Growth and Tourism advised that Members would be kept updated on progress.

 

Members discussed the split between revenue and capital for bids and how the funding would be phased.

 

In the absence of any dissent, it was agreed to note the report.


Meeting: 06/06/2022 - Cabinet (Item 8)

8 UK Shared Prosperity Fund pdf icon PDF 258 KB

To consider the report of the Head of Investment, Growth and Tourism (to follow).

 

Responsibility: Leader of the Council

Minutes:

It was agreed:

 

(a)  That the UK Shared Prosperity Fund (UKSPF) Prospectus and UK Shared Prosperity Fund Allocations be noted.

 

(b)   That the Strategic Director (Operations and Commercial) be authorised, in consultation with the Leader of the Council, to take the necessary decisions and actions required to finalise a related investment plan, and to accept the allocation of funds, as well as to implement and administer the scheme and all related plans in accordance with the requirements and priorities of the Prospectus and Fund.

 

(c)   That the use of the available £20,000, to undertake initial preparatory work for the UKSPF, including developing the local investment plan for submission, be approved.

 

(d)  That the use of the UKSPF 4% administration allocation to support the productive delivery and administration of the Fund be approved.