Purpose

To adopt the draft South Holland UK Shared
Prosperity Fund Investment Plan for 2025-26.

Decision

To adopt the draft UKSPF Investment Plan for
2025-26 and to submit the Plan urgently to the Mayoral County
Combined Authority on 28th February 2025.

Reasons for the decision

To meet the two-week deadline set forward by
the new Mayoral County Combined Authority for the production,
agreement and adoption of an Investment Plan for the renewed 2025-6
UK Shared Prosperity Fund Programme.

Alternative options considered

1.   
To submit the proposed Investment Plan for 2025-26 in order to meet
the deadline; and
 
2.   
Do Nothing – This would result in the deadline being missed.
This is likely to carry financial and operational risk to the
Council and to communities, as a later start to the constituent
grant funding Programmes will reduce the available time for
delivering projects and risk underspend or return of funds due to
the Borough. The reputational risk arising from this option would
likely be significant.