Decision

To approve the projects recommended by the
Decision Making Advisory Panel for the UK Shared Prosperity Fund
and Rural England Prosperity Fund in the financial year 2025/26
subject to underspends being declared.

Reasons for the decision

Provides a proactive mechanism to allocate any
underspends declared quickly and responsibly, safeguarding the
area’s funding. The implementation of the proposal will meet
the core priorities of the programme by supporting the development
of:
- healthy, safe and inclusive communities
- thriving places
- support for business

Alternative options considered

The option to not sign off the recommended
approach to utilising UKSPF and REPF underspends has been rejected
due to the risk UKSPF/REPF monies will not be defrayed and the
investment plan will not be delivered. UKSPF/REPF monies would
therefore be at risk of being lost to the area.