Further to Minute No. 143, 20th April 2022, the Director of City Development submitted a report which provided an update regarding the UK Shared Prosperity Fund (UKSPF) and set out proposed high-level priorities for Leeds. The report sought endorsement of those priorities and agreement to delegate necessary authority to the Director of City Development to accept UKSPF funding and also to authorise year 1 delivery.
Responding to a Member’s enquiry, the Board received further details on the breakdown of the funding allocation, the levels of funding being received when compared to that of the EU Structural and Investment Funds (ESIF), the timeframes by which such allocations would need to be spent and how the allocation would align to the 3 investment priorities. The Board also received further information on the provision of other complementary funding streams which were available.
In response to an enquiry, the Board received an update on the activity of the MP Engagement Group, in line with the requirement to consult with local MPs.
Members also received further detail on the process by which the added value arising from the investments made via this funding stream would be monitored and assessed.
(a) That the high-level UKSPF priorities for Leeds, as detailed within the submitted report, be noted and endorsed;
(b) That the necessary authority be delegated to the Director of City Development, in order to enable the Director to accept UKSPF funding (including Multiply) and contract with the West Yorkshire Combined Authority, subject to our priorities being accepted by UK Government;
(c) That the Board authorise procurement and spend for year 1 delivery of the interventions, outputs and outcomes of UKSPF, as set out within the West Yorkshire Local Investment Plan, subject to approval by UK Government.