Purpose

1.     
To note the update on the progress of the
Guildford’s UK Shared Prosperity Fund and Rural England
Prosperity Fund projects.
2.     
Approve the revised spend proposals for
2024/5
 

Content

Decision:
The Executive agreed:

1.      
The revised project allocations of Guildford’s
UKSPF grant funding for 2024/25, as outlined in the
report.

2.      
To delegate to the Strategic Director of Place, in
consultation with the Lead Councillor for Regeneration, authority
to enter into such contracts and legal agreements connected with
the UKSPF and REPF as may be necessary in compliance with
Procurement Procedure Rules and within the allocated grant funding
budget.

3.      
To delegate to the Strategic Director, in
consultation with the Lead Councillor for Regeneration, authority
to reallocate budget across projects as required in order to meet
the grant spend deadline.
Reason(s):
The £790,320 total capital
and revenue funding Guildford Borough Council has been allocated
from the UKSPF for 2024-25 is a significant sum of money that could
have a positive impact on the borough’s local communities and
businesses.  
The projects put forward align with
the borough’s local priorities and we intend to leverage
collaboration with the Council’s partners to maximise value
for money.
Other options considered and rejected by the
Executive:
OPTION 1: The Executive could
decide not to approve the proposed revised interventions for
Guildford’s UKSPF grant for 2024-25. However, this would
result in a high likelihood that the Council would not be able to
use the grant within the funding availability period and would
therefore have to repay a proportion of it to the DLUHC. This would
also mean that the Council would be unable to advance the proposed
projects and make use of the grant allocated within the prescribed
timescales to empower our local businesses and
communities.
Details of any conflict of interest declared by
the Leader or lead councillors and any dispensation
granted:
None.