Issue - meetings

A North Yorkshire Investment Plan for the UK Shared Prosperity Fund

Meeting: 19/07/2022 - Executive (Item 48)

48 UK Shared Prosperity Fund in North Yorkshire pdf icon PDF 4 MB


Considered – A report of the Corporate Director – Business and Environmental Services seeking approval to submit an Investment Plan for the UK Shared Prosperity Fund in North Yorkshire with a total value of £16,892,952 over the three years between April 2022 and March 2025.


County Councillor Derek Bastiman introduced the report confirming the new UK Shared Prosperity Fund (SPF) was replacing the European Union, Strategic Investment Funds.  He also drew attention to the priorities, objectives and interventions associated with the SPF, as detailed in the report.


It was noted that some minor tweaks to the Investment Plan had recently been approved by the LEP Business Board and that elected members (as members of the Board) would be involved in the sign off procedures.


Karl Battersby, Corporate Director for Business and Environmental Services confirmed that subject to the recommendations in the report being approved, the intention was to progress the work on future bids in order to meet future deadlines, ahead of a formal government decision on North Yorkshire’s Investment Plan.


Executive Members thanked officers for their work to date, and it was


Resolved – That:

i.      The Shared Prosperity Fund Investment Plan for North Yorkshire with a total value of £16,829,952 for submission to DLUHC be approved.

ii.     Authority be delegated to the Director of Business and Environmental Services to agree the final detail and submission of the Investment Plan in consultation with Executive Member for Open to Business and the Corporate Director, Strategic Resources (Chief Finance Officer)

iii.    The proposed governance structure including the creation of three priority theme sub groups based on the YNY Local Enterprise Partnership Boards for Skills and Business be approved, and a third Communities and Place sub group be established.

iv.   The formation of a multi authority delivery team based in the LEP be approved, building on its existing function in delivering Growth Deal and Skills funding programmes.