Issue - meetings

This item is due to be the subject of pre-scrutiny at a meeting of the Overview and Scrutiny Committee scheduled to take place on 10^th March 2025.  Any recommendations arising from that meeting will be published in a supplementary pack for the consideration of the Executive Committee.

The UK Prosperity Fund Manager presented the UK Shared Prosperity Fund 2025 – 2026 for Members’ consideration.

In doing so it was highlighted that there had been a one-year extension of the UK Shared Prosperity Fund (UKSPF) for the financial year 2025 – 2026 at a reduced rate of funding. This had resulted in Redditch Borough Council being allocated £818,536.

It was reported that there had been some further changes in the UKSPF for this financial year, in that the list of fifty plus interventions had been replaced with five themes and twelve sub-themes.

The Investment Plan for the funding had been aligned with the priorities outlined by Members and included support for communities and the Voluntary Sector, improvement of the Town Centre, Parks and Green Spaces and the Cost of Living. Furthermore, there had been consultation with the Redditch Town Deal Board who also supported the priority of investment in upskilling, youth unemployment and support for local businesses as key priorities. Members were pleased that this support had been provided.

It was noted that one of the proposed recommendations contained within the report would also allow any funds that had not been spent as per the Investment Plan to be reallocated following consultation with the Portfolio Holder for Planning, Regeneration and Governance. This would ensure that all available monies were spent within the deadline, providing the best outcome for Redditch and its residents.

Members welcomed this report and felt that the investment would help those communities and groups that needed it most. It was further noted that the support was welcomed for those young people who were not in employment, education or training (NEET) particularly as many of these young people were care-leavers. Members queried how this support would be provided, and it was reported that Worcestershire County Council would provide this service through the Redditch Youth Hub, who already had strong support of this client group.

RESOLVED that

1)    The Investment Plan be approved; and

2)    Authority to vary the Investment Plan, in order to maximise the use of the grant be delegated to the Assistant Director Regeneration & Property following consultation with the Portfolio Holder for Planning, Regeneration and Governance.