35 UK Shared Prosperity Fund - Borough Allocation PDF 653 KB
The report sought the authority of the Council’s Executive to accept the UK Shared Prosperity Fund borough allocation grant totalling £1.63M and requested delegated authority be granted to the Director of Housing, Planning and Regeneration in consultation with the Portfolio Holder for Renewal and Recreation to determine interventions agreed with the Greater London Authority via a grant agreement and any variations to the grant.
In considering the grant allocation, a Member highlighted the importance of support for high streets and local parades being targeted at independent retailers. Another Member observed that £1.23M would be used towards the development of the new West Wickham library building and it was confirmed that this would fund additions to the current scheme. The UK Shared Prosperity Fund was a three-year scheme, and it was possible a further round of funding would be made available at the end of the three years at which time other schemes might benefit. The Head of Economic Development advised Members that a further tranche of funding was also due to be made available in the areas of People and Skills via Local London which the Local Authority hoped to benefit from, and that the process for the remaining competitive funds for London had yet to be determined by the Greater London Authority.
RESOLVED: That the Council’s Executive be recommended to:
1) Approve the acceptance of the in-principle allocation of UKSPF grant funding totalling £1.63M, and approve for the capital programme and revenue budgets to be adjusted accordingly;
2) Approve delegated authority to the Director of Housing, Planning and Regeneration in consultation with the Portfolio Holder for Renewal and Recreation to determine interventions agreed with Greater London Authority through a grant agreement and any variations to the grant;
3) Note the proposed interventions submitted to the Greater London Authority set out in paragraphs 3.6-3.29; and,
4) Note the scope of this decision does not include the in-principle allocation of £760K for 2024-2025 for People and Skills which is only accessible through Local London and determined through sub-regional decision-making.