Council will use government funds to boost investment and prosperity
Gedling Borough Council announced it had submitted plans to significantly improve the borough through the government’s Shared Prosperity Fund, launched by the Department for Upgrading, Housing and Communities earlier This year.
The Shared Prosperity Fund replaced the European Union Regional Development Fund and is allocated through a funding formula, as opposed to the competitive bidding system that the Leveling Department uses for its Leveling Fund.
Gelding Borough Council’s submission used a detailed investment plan which set out how it would use the money to meet the government’s funding criteria, as well as the benefits the local community could reap. The fund’s three main priorities, communities and place, supporting businesses and people and local skills, show similar ambitions to the Leveling Up Fund.
Councilor John Clarke, Leader of Gedling Town 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 that projects that were previously funded by EU money can continue. We will also use the money to ensure that projects that were previously funded by EU money can continue. We will also use the money to support local communities and neighborhoods with projects, help create safer places for people to enjoy, and help the most vulnerable residents lower the cost of living.
During the consultation process, the council spoke to local community groups, businesses and partners to determine what the money should be used for, with Nottinghamshire County Council backing the offer.