Gedling Borough Council has announced that it has submitted plans to significantly improve the borough through the government’s Shared Prosperity Fund, launched by the Department for Levelling Up, Housing, and Communities earlier this year.
The Shared Prosperity Fund has replaced the European Union Regional Development Fund and is allocated through a funding formula, as opposed to the competitive bid system that the levelling up department uses for its Levelling Up Fund.
The submission from Gelding Borough Council used a detail investment plan that indicated how it would use the money to meet the government’s funding criteria, as well as showing the benefits that the local community would be able to reap. The three main priorities of the fund, communities and place, support for local business and people and skills, show similar ambitions to the Levelling Up Fund.
Councillor John Clarke, Leader of Gedling Borough Council, said:
“We have submitted an investment plan that will help show how we will spend this much needed money in key areas of the borough. We will use the money to ensure projects that were previously funded by EU money will be able to continue. We will also use the money to ensure projects that were previously funded by EU money will be able to continue. We will also use the money to support local communities and neighbourhoods with projects, help create safer places for people to enjoy and help or most vulnerable residents to reduce the cost of living.”
During the consultation process, the council spoke to local community groups, businesses, and partners to establish what the money should be used for, with Nottinghamshire County Council backing the bid.