Agenda item

Report of the Director – Development and Economic Growth

It was RESOLVED that Cabinet:

a)    Recognised UKSPF activity delivered in 2022/23

b)    Endorsed the proposals for UKSPF and REPF in 2023/24

c)    Delegated sign off of refinements to proposals for 2023/24 to the Leader, Chief Executive and S151 Officer, with both revenue and capital implications reported in future financial reports to Cabinet and the MTFS to Full Council

d)    Delegated sign off of grant awards for UKSPF and REPF to the S151 Officer and Director Development and Economic Growth in consultation with the Portfolio Holder for Business and Growth, following officer recommendations based on assessment and moderation.

The Cabinet Portfolio Holder for Business & Growth, Councillor Edyvean, presented the report of the Director Development and Economic Growth which outlined plans for UK Shared Prosperity Fund (UKSPF) and Rural England Prosperity Fund (REPF) 2023/24.

Councillor Edyvean explained that UKSPF funding had been set up to replace European funding and had first been considered by Cabinet in July 2022.  He said that the funding worked better at delivering money locally and highlighted that in its first year the Council had spent £312k of UKSPF funding on communities and place and local businesses. Councillor Edyvean explained that it had allowed the Council to provide initiatives such as further improvements to Rushcliffe Country Park, reed clearance on Grantham Canal and cost of living workshops and had enabled the Council to employ an advisor to support local high street businesses. He added that the funding would also support people and skills, with that money kicking in the third year of funding.

Councillor Edyvean said that the proposals before Cabinet were for the coming financial year of 2023/24 and amounted to funding of £624k, to be split between community and place at £325k and business support at £274k. He referred to paragraphs 4.7 and 4.8 of the report which set out the proposed funding allocations.

Councillor Edyvean referred to paragraph 4.2 of the report which set out proposals for REPF, including £80k for businesses to bid for, for projects such as diversification of their business, net zero infrastructure, support for rural business hubs and supporting a visitor economy. He said the £69k was allocated for communities and place and that the Council would invite applications for funding between £10k to 40k, with match funding required in certain instances. He said that businesses grant applications would require 60% match funding and that community grants would require 30%, which could be either financial or in kind. He explained that whilst match funding for the community and place was not mandatory, the Council would like to see commitment for some match funding. He said that the Council would be accepting bids from the end of April 2023.

Councillor Edyvean referred to paragraphs 4.19 through to 4.22 of the report which set out the proposal for governance. He highlighted that Officers would continue to refine the programmes as they unfolded, with the Leader, Chief Executive and S151 Officer being able to agree any changes and that grants would be assessed monthly by report to the Portfolio Holder for Business and Growth and sign off of the grants would be through the S151 Officer and the Director Growth and Economic Development. He added that quarterly reports would be presented to the Strategic Growth Board and monthly monitoring would be carried out by the UKSPF and REPF Project Board to ensure delivery of projects and that spend was on track.

In seconding the recommendations, Councillor Moore said that £3m to spend in Rushcliffe was a good thing and he was pleased to see the process put in place to spend the funding. He was also pleased to see practical, local and visible expenditure within the communities, bringing extra green spaces, energy conservation, improvements for local community and sporting facilities which were all very important for residents.

Councillor Moore stressed that it was important that improvements were seen and visible and referred to the work that had been carried out on the canal. He said that this had received hugely positive views with a lot of residents asking about the funding and feeding back about the positive impact, how well the funding had been well spent and how appreciated it was. Councillor Moore looked forward to seeing the variety of interesting projects coming forward.

Councillor Upton echoed the comments of Councillor Moore and said that the funding would bring significant amounts for money to the Borough of Rushcliffe for projects that would be highly visible to many of the local communities. He said that whilst the processes for the funding may appear complicated, it was positive and targeted to local projects.

Councillor Robinson referred to the good governance for the funding and said that there was control through the Rushcliffe Strategic Growth Board which had been set up some years ago by the Council. He suggested that the funding could go through the scrutiny process at some point to ensure that the funding was delivering as expected. He said that unlike European funding which at times could be bureaucratic and slow this funding should be a lot more direct and accountable and he looked forward to seeing the projects come to fruition.

It was RESOLVED that Cabinet:

a)    recognises UKSPF activity delivered in 2022/23;

b)    endorses the proposals for UKSPF and REPF in 2023/24;

c)             delegates sign off of refinements to proposals for 2023/24 to the Leader, Chief Executive and S151 Officer, with both revenue and capital implications reported in future financial reports to Cabinet and the MTFS to Full Council; and

d)             delegates sign off of grant awards for UKSPF and REPF to the S151 Officer and Director Development and Economic Growth in consultation with the Portfolio Holder for Business and Growth, following officer recommendations based on assessment and moderation.