Decision details

Update on the UK Shared Prosperity Fund and the Rural England Prosperity Fund

Decision Maker: Executive

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

To provide a comprehensive update on the UK Shared Prosperity Fund investment plan and the development of an ‘Addendum’ to unlock the recently announced Rural England Prosperity Fund and to gain support for the proposed management of the two funds up to March 2025

Decision:

Resolved

 

(1)          That progress made on unlocking Cherwell’s £1.255m allocation of UK Shared Prosperity Fund (UKSPF) through the submission of an investment plan on 1 August 2022 be noted.

 

(2)          That the launch of the Rural England Prosperity Fund (REPF) be noted and authority be delegated to the Corporate Director - Communities, in consultation with the relevant Portfolio Holder, to endorse an investment plan ‘Addendum’ to unlock Cherwell’s £526,831 allocation.

 

(3)          That the approach in relation to external and internal governance structures, to manage the delivery of UKSPF and REPF projects, including the delegated authority to the Corporate Director, Communities to agree change requests.

 

Reason Key: Significant Expenditure or Savings and effect on communities in two or more wards;

Corporate Priorities : An enterprising economy with strong and vibrant local centres;

Reason No Public Access: No

Contact: Robert Jolley, Assistant Director Growth & Economy Email: robert.jolley@cherwell-dc.gov.uk Tel: 01295 221688.

Report author: Robert Jolley

Publication date: 06/12/2022

Date of decision: 05/12/2022

Decided at meeting: 05/12/2022 - Executive

Effective from: 10/12/2022

Accompanying Documents: