Decision details

To set out details of the Government’s UK Shared Prosperity Fund (UKSPF) and outline a way forward for the use of the Council’s funding allocation.

The government launched its UK Shared Prosperity Fund (UKSPF) this year, as part of its Levelling Up agenda.  It provides £2.6 billion of funding intended to reduce inequalities between communities. The funding covers the three year period up to March 2025, and Fareham Borough Council has been allocated a total of £1m.

As lead authority, the Council must submit a plan of how the funding shall be used, and the positive outcomes that can be expected as a result of the projects it funds.

The report sets out a set of proposals for how the funding could be used, namely:-

• A community-led approach to investment in the Fareham North West area to level up the provision of community facilities, sports facilities and amenity space, together with delivery of new affordable homes;
• Improving the facilities at Crossfell Walk play area in Fareham South;

·         A programme of business support, prioritising proposals that strengthen the retail offer in district and local centres, improve the attractiveness of district and local retail centres, or support the objective of achieving net zero carbon/increase investment in green growth

If the proposals are supported, and following a series of stakeholder engagement measures, the proposals will be submitted to the Government by the deadline of 1^st August 2022.

RESOLVED that the Executive:

(a)   notes the purpose of the UK Shared Prosperity Fund;

(b)   endorses the priority themes for use of the Council’s funding allocation; and

(c)  agrees to delegate authority to the Deputy Chief Executive Officer, following consultation with the Executive Leader, to prepare and submit the detailed plan for Fareham, to Government, by the 01 August 2022.