Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: Yes

Date of Decision: February 18, 2025

Purpose:

Content: That Cabinet:   a)    note the report, including the updates associated with the UK Shared Prosperity Fund (UKSPF) and Rural England Prosperity Fund (REPF);   b)   approve the proposed UKSPF revenue commitments detailed in Table 3 of the report, subject to; a) separate Cabinet approval of the budget of £433,000 required in 2025/2026; b) formal confirmation of the Council’s funding allocation; and c) any necessary funding due-diligence checks, including from the East Midlands Combined County Authority (EMCCA);   c)    note the ‘in-principle’ capital commitment of £912,487, detailed in Table 3 of the report, subject to; a) a future Cabinet report relating to the relevant project to seek approval to commit the funding within the Council’s Capital programme; b) formal confirmation of the Council’s 2025/2026 UKSPF allocation; and c) any required due-diligence checks from EMCCA; and   d)   approve the proposed underspend and change control process, as outlined in 1.15 of this report.   Reasons for Decision:   The recommendations in the report are presented to enable continued delivery of the UKSPF strategic priorities identified by community partners, focussing on the commitment of funding towards projects that deliver the Council’s Community Plan objectives, the UKSPF sub-themes as set out by MHCLG, and to avoid gaps in community, skills and business support provision.   Options Considered:   There is the option for the Council not to accept any future UKSPF allocation and decide not to participate in delivery of the scheme. This is not recommended as it represents a missed opportunity to deliver impactful priority projects, that deliver the Councils community plan objectives.   There is also the option not to commit funding to existing priorities identified within the current UKSPF programme. This approach is not recommended as it would likely fail to recognise the strategic investment priorities identified by the Council, and key stakeholders. This would also result in the withdrawal of valued support programmes for businesses and residents, linked to core services and mainstream skills provision.