Content

10.1

The purpose of this report is
to seek approval to become accountable body for £250,000 of
South Yorkshire Mayoral Combined Authority (SYMCA) funding and to
award grant funding of up to £245,000 of that funding,
combined with STF Towns fund Revenue funding, to South Pennine
Community Transport (SPCT) as part of the Stocksbridge Town Funds
(STF) programme.
 
The full grant agreement will
consist of both capital and revenue funding. The capital element
has been considered and approved by the Finance and Performance
Policy Committee on the 20 January 2025 and consists of capital
funding of £615,900. This report seeks approval of the
revenue amount only, which is £10,000 – STF Revenue
Funding, £235,000 - SYMCA Revenue Funding and associated
revenue fees.
 
The full grant amount will be
used to enable the purchase of up to four buses in total, together
with operational funding to deliver an enhanced and new bus service
in the Stocksbridge area for the next 5 years. After the five year
funded period, funding will be complete, and the service is
expected to be self-sustaining. No further support will be
provided.

 

 

10.2

RESOLVED
UNANIMOUSLY: That the Transport,
Regeneration and Climate Policy Committee:-
 

(a) 
approves the Council becoming accountable body for
£250,000 of Transport Innovation Fund funding from
SYMCA;
 

(b) 
approves the Council awarding revenue grant funding
of up to £245,000 and entering into a grant agreement with
South Pennine Community Transport as detailed in this report, and
note that the full grant amount is £860,900 when the capital
element of £615,900 is included; and
 

(c)  
approves the Council using up to £100,000
Stocksbridge Towns Funding to cashflow the Stocksbridge Towns Fund
Hopper Bus project until the Transport Innovation Fund Agreement is
completed with SYMCA and grant claims submitted and funding
received.

 

 

10.3

Reasons for Decision

 

 

10.3.1

By issuing a grant agreement
for the revenue support to the grant fund recipient the Council is
facilitating the delivery of a key project within the Stocksbridge
Towns Fund Investment Plan.

 

 

10.4

Alternatives Considered and Rejected

 

 

10.4.1

Alternative Option
1:
Not accept the revenue funding
to support the Hopper Bus Project or approve provision within the
grant agreement.
 
This option would likely result
in a missed opportunity to make use of £250,000 allocated TIF
funding from the SYMCA to provide transportation services in
Sheffield.
 
This option would result in
SPCT being unable to pay operational costs to support the STF
Hopper Bus service. In this circumstance, the Council would not
proceed with either capital or revenue funding award, and the
service would not run.
 
This would be contrary to the
identified priorities of the Stocksbridge Towns Fund
Board.