Shared Prosperity Fund
Broxbourne Borough Council was allocated £1,156,199 from the Government's Shared Prosperity Fund (UKSPF) (plus an additional £20,000 capacity funding). The funding is to support both revenue and capital expenditure and was subject to the approval of an Investment Plan.
Preparation of the UKSPF Plan
To obtain access to the allocated UKSPF funding, the Council submitted an Investment Plan to the Department for Levelling Up, Housing and Communities (DLUHC) on 1 August 2022, following Cabinet approval for the UKSPF priorities in July 2022. The plan was approved in December 2022.
Priorities for the Broxbourne Investment Plan
Whilst the Investment Plan covers the Borough of Broxbourne, Waltham Cross is identified as a key priority and programmes are in place to help tackle the greater levels of challenge residents face in terms of low pay, skills, community safety and health. The plans are aligned to the Levelling Up Fund (LUF) Bid for Waltham Cross for £14.3m (announced as being successful 18 January 2023).
The areas of priority in the Investment Plan are:
Communities and place: community safety; support for cultural and community events; free Wi-Fi in town centre; improvements to sport areas/clubs.
Supporting local business: employing a town centre manager to support growth of retail business and the visitor and night-time economy.
People and skills: Basic skills for the economically inactive, basic digital skills for employability, tailored skills to meet the needs of local employers, along with language skills to assist the diverse communities across the Borough.
The allocation was set out as follows:
|
Allocation 2022/23 |
Indicative allocation 2023/24 |
Indicative allocation 2024/25 |
||
|---|---|---|---|---|
|
Capital |
Revenue |
Capacity |
£280,631 |
£735,253 |
|
£68,315 |
£72,000 |
£20,000 |
||
Key areas of spend in 2022/23
- Public Realm Design Work for Waltham Cross Town Centre (Capital)
- Recruitment of a Town Centre manager (commenced in the role March 2023)
- Job Smart employment programme (delivered by the Community Alliance)
- Events and Community Activities
- Delivering Skills Programmes for small businesses
Key areas of spend in 2023 - 2025
The allocations for 2023- 25 are still indicative but the spend priorities in the Investment Plan include:
• Employment Programmes
• Business Support
• Services for Young People
• Skills Programmes
• Town Centre Manager role
• Marketing, Events and Community Activities
• Town Centre Improvements.
• Implementation of the Arts and Cultural Strategy
• Local Sports facilities and provision