Decision details

Purpose of Report: The report summarises two funding pots that have been made available by the Government to support the delivery of its Levelling Up Agenda, which was set out in the Levelling Up White Paper earlier this year.

The two pots recently announced are the UK Shared Prosperity Fund and round 2 of the Levelling Up Fund. The report seeks approval for officers to prepare the necessary business cases to submit a bid for Levelling Up Funding, and to prepare the investment plan required to draw down UK Shared Prosperity Funding.

The Executive will be asked to:
1) Set out the necessary work, including stakeholder engagement and the preparation of bids and investment plans to secure the drawdown of York’s allocation of the UK Shared Prosperity Fund and the preparation of bids for the Levelling Up Fund.

2) Confirm the Investment Plan, required to draw down York’s allocation of funding from the UK Shared Prosperity Fund.

3) Approve the projects for submission to Round 2 of the Levelling Up Fund.

Resolved:  (i)      That officers be instructed to undertake the necessary work, including partner engagement and the preparation of an investment plan, to secure the drawdown of York’s allocation of funding from the UKSPF.

                   (ii)      That authority be delegated to the Corporate Director of Place, in consultation with the Executive Member for Economy and Strategic Planning and the Executive Member for Finance and Performance, to submit the final Investment Plan required to draw down York’s allocation of funding from the UKSPF.

Reason:     To allow officers, in consultation with the relevant Executive Members, to prepare and submit an Investment Plan by the end of July 2022 to secure the drawdown of funding from the UKSPF.

                   (iii)     That authority be delegated to the Corporate Director of Place, in consultation with the Executive Member for Finance and Performance, to submit the round two funding bids identified in this report to the LUF. 

Reason:     To allow officers to prepare and submit the strongest possible bids to Government on 6 July.

                   (iv)    That it be noted that a report setting out the final bid submissions will be brought to a future decision session of the Executive Member for Finance and Performance.

Reason:     To confirm the final bid compositions submitted to Government.