Decision details

To adopt and submit the draft Investment Plan for the UK Shared Prosperity Fund in 2025-6, in line with the deadlines set by the Mayoral County Combined Authority.

To adopt and submit the draft Investment Plan for the UK Shared Prosperity Fund in Financial Year 2025-6, the funding priorities within this Investment Plan and the proposed approach to the distribution of funding. Specifically, to renew the UK Shared Prosperity Fund Programme on the basis of supporting successful interventions to continue through a continuation fund, an open grant funding scheme in Communities and Place for new projects and continuing the delegated model for grant awards to local businesses, Parish Councils and community projects through the two delegated Schemes (LCF GRASSroots and Grants4Growth II).

To meet the two-week deadline set forward by the new Mayoral County Combined Authority for the production, agreement and adoption of an Investment Plan for the renewed 2025-6 UK Shared Prosperity Fund Programme. To set out the UK Shared Prosperity Fund Investment Plan for 2025-6 and to support the mobilisation of that plan in the new Financial year.

1. To submit the proposed Investment Plan for 2025-6 in order to meet the deadline

2. Do Nothing – This would result in the deadline being missed. This is likely to carry financial and operational risk to the Council and to communities, as a later start to the constituent grant funding Programmes will reduce the available time for delivering projects and risk underspend or return of funds due to the District. The reputational risk arising from this option would likely be significant.