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 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 1st August 2022.
Decision type: Non-key
Decision status: Recommendations Approved
Decision due: 4 Jul 2022 by Executive
Lead member: Executive Member for Policy & Resources
Lead director: Deputy Chief Executive Officer
Contact: Andrew Wannell, Chief Executive Officer Email: email@example.com Tel: 01329 824620.