In April 2022, the Government launched the UK Shared Prosperity Fund (UKSPF) to support its Levelling Up agenda. The primary goal of the UKSPF is to build pride in place and increase life chances across the UK. As a result, West Suffolk Council has created a Town Centre Fund, using UKSPF funding under intervention:
‘E1': Funding for improvements to town centres and high streets, including better accessibility for disabled people, including capital spend and running costs’ and under the ‘Communities and Place’ investment priority.
West Suffolk Council has secured £38,109 of UKSPF funding for the Town Centre Fund in 2023 to 2024, with further funding (£192,662) available in 2024 to 2025. £7,156 of the 2023/24 funding is revenue and £30,953 is capital.
The Fund will offer grants of up to £10,000 per town and will require new match funding from the applicant at a rate of 40 per cent. We may not be able to allocate your full requested amount depending on the demand.
Who can apply?
The scheme is open to town councils and Business Improvement Districts (BIDs) in the West Suffolk district and the funding must be spent within the town centre of the respective organisation. Where there is both a Business Improvement District and town council representing your area, we would ask that you coordinate one bid for your activities.
Before making the payment, West Suffolk Council requires written confirmation under Section 37 (2) of the Subsidy Control Act 2022 that receipt of the payment will not exceed beneficiaries’ Minimum Financial Assistance (MFA) threshold of £315,000 cumulated over this and the previous two financial years, as specified in section 36 (1) of the
Subsidy Control Act 2022.
Please note: Early engagement with the Council is a requirement in order to ensure that these align with UKSPF and Council priorities. Applicants need to be able to deliver the elements bid for before the end of March 2024. Successful bidders will be asked to liaise with West Suffolk Council over communication and publicity of the funded projects, and to use UKSPF branding where required by Government. The funding allocation for 2023 to 2024 will be awarded as soon as possible after receipt of funding by West Suffolk Council from DLUHC early in Spring/Summer 2023.
Please find further information on the West Suffolk Council UKSPF Town Centre Fund
here.