Issue - meetings

The report of the Director – Development and Economic Growth is attached.

It was RESOLVED that:

a)               the proposals as outlined in the report for UKSPF and REPF grant pots be supported;

b)               a further report be requested to Cabinet in early 2024, outlining proposals for the remaining UKSPF to be spent in 2024/25; and

c)               sign off of grant awards and reallocation of grant funding between priorities (Business Support and Communities and Place) for UKSPF and REPF be delegated to the S151 Officer and Director – Development and Economic Growth, in consultation with the Cabinet Portfolio Holder for Business and Growth, following officer recommendations based on assessment and moderation.

The Cabinet Portfolio Holder for Business and Growth, Councillor Brennan presented the report of the Director – Development and Economic Growth, which provided an update on the UK Shared prosperity Funding (UKSPF) and the Rural England Prosperity Funding (REPF) proposed grant pots for 2024/25.

Councillor Brennan advised that the report set out the proposed framework for funding allocations for the third and currently final round of UKSPF and REPF. Cabinet was advised that the report set out the background to the funds, which were in support of the Government’s Levelling Up agenda and to a degree replaced the European Structure Investment Funds.  The report also detailed the lessons learned from the first two rounds of bidding from the Council’s directly commissioned projects, together with feedback from both successful and unsuccessful bidders into the Open Grant Pot.  The report recommended that a new grant pot be created and opened in November 2023, with successful projects starting in April 2024.  Councillor Brennan advised that the 2022-23 pot had been very oversubscribed, which demonstrated a clear need for those funds, and the lessons learned were detailed in Paragraph 4 of the report.  Reference was made to Paragraph 4.6, which set out the financial allocation for the year, that Government had weighted to year three, with just over £2m available, including some jointly commissioned work with other local authorities to support local businesses across the county.  Councillor Brennan stated that the allocations across the themes were agreed in the Investment Plan, submitted to Government, although there was scope to move up to 30% of funds to reflect local need.  Paragraph 4.11 set out the available funds for the Communities Grant Pot, with the UKSPF and REPF combined for larger interventions, with a formal bidding round.  A smaller grant pot would be open from April 2024, on a first come first served basis for projects below £5k.  Councillor Brennan referred to the plans and funds available for the Business Support Grant Pot, highlighted in Paragraph 4.15, which again suggested the formation of a smaller pot for high street businesses, also to be allocated on a first come basis, with the timeline for bidding outlined in Paragraph 4.17.  Cabinet was advised that in addition to the grant pot, the Council would directly commission projects, including under a new year three People and Skills Priority, with a report back to Cabinet in January 2024, setting out allocation proposals for that.  Councillor Brennan concluded by referring to the popularity of the initiative, referred to the significant work for officers in ensuring due diligence in the process and supporting applicants, both successful and unsuccessful, and advised that in many cases, applicants had only been unsuccessful, as the funds had been oversubscribed.   

In seconding the recommendation, Councillor Virdi reiterated the importance of continuing to support and provide opportunities to local businesses and community groups, with both funds providing a great avenue for that.  Councillor Virdi endorsed the suggested processes, and after taking into account issues from the previous bidding rounds,  ...  view the full minutes text for item 32