Issue - meetings

The Department of Levelling Up, Housing and Communities (DULHC) allocated Waverley Borough Council £1 million of UK Shared Prosperity Fund grant in April 2022. Identifying the challenges for the local community, an investment plan was submitted to Government in July, proposing the allocation of these funds to key projects in disadvantaged areas of the borough. These 20+ projects are to be delivered by external partners. In September 2022 Department of Environment, Food and Rural Affairs (DEFRA), allocated a further £400,000 grant funding through the Rural Prosperity Fund, earmarked to support rural communities. The due diligence and approved governance journey of the proposed projects to be supported has now taken place.

This report sets out the proposed projects supported by this funding. The report seeks the Executive’s approval to these projects and to agree to the Rural England Prosperity Fund being allocated to three areas of business support, and that businesses to receive the limited grant funding would be approved via a panel.

Recommendation

It is recommended that the Executive approves:

1.    the projects that have gone through the governance journey required by government, engagement with MPs in addition to internal governance requirements, for the £1 million UK Shared Prosperity Fund (UKSPF) allocation to Waverley.

2.    Waverley’s Rural England Prosperity Fund (REPF) allocation of £400,000 is used as a continuation of the Rural Development Programme for England: LEADER Funding (2015-2020) to support Waverley’s rural business community, working with Surrey County Council, Guildford BC and Tandridge DC.

The Executive RESOLVED to approve:

1.       the projects that have gone through the governance journey required by government, engagement with MPs in addition to internal governance requirements, for the £1 million UK Shared Prosperity Fund (UKSPF) allocation to Waverley.

2.       Waverley’s Rural England Prosperity Fund (REPF) allocation of £400,000 to be  used as a continuation of the Rural Development Programme for England: LEADER Funding (2015-2020) to support Waverley’s rural business community, working with Surrey County Council, Guildford BC and Tandridge DC.

Reason: The allocation of £1.4 million is a considerable sum that will have a significant impact on local communities and businesses. The projects funded support the priorities of the Council during the recent cost-of-living crisis and new Economic Development Strategy, currently being consulted on with external and internal stakeholders. The projects have travelled through the internal and external governance route, as approved in July 2022.

[Overview & Scrutiny – Resources]

The Portfolio Holder for Planning and Economic Development introduced the report which set out proposals for allocating £1m of UK Shared Prosperity Fund awarded to Waverley in April 2022, and a further award of £400,000 from the Rural Prosperity Fund. The due diligence and governance requirements of the proposed projects had now been completed, which were now recommended to the Executive for approval.

The Executive RESOLVED to approve:

1.       the projects that had gone through the governance journey required by government, engagement with MPs in addition to internal governance requirements, for the £1 million UK Shared Prosperity Fund (UKSPF) allocation to Waverley.

2.       Waverley’s Rural England Prosperity Fund (REPF) allocation of £400,000 to be used as a continuation of the Rural Development Programme for England: LEADER Funding (2015-2020) to support Waverley’s rural business community, working with Surrey County Council, Guildford BC and Tandridge DC.

Reason: The allocation of £1.4 million is a considerable sum that will have a significant impact on local communities and businesses. The projects funded support the priorities of the Council during the recent cost-of-living crisis and new Economic Development Strategy, currently being consulted on with external and internal stakeholders. The projects have travelled through the internal and external governance route, as approved in July 2022.