Amber Valley Borough Council is celebrating the announcement that it will receive £2.9m in additional Government-allocated funding to spend on local projects.
The award from the £2.6bn UK Shared Prosperity Fund (UKSPF) forms part of the Government’s wider 'Levelling Up' agenda, which aims to reduce inequalities between communities across the country.
The share allocated to Amber Valley follows the Government’s full approval of the council’s proposed Investment Plan. The £2.9m funding must be spent before March 2025.
The Investment Plan, created through engagement with a consultation board representing public, private and the community sector, local Members of Parliament, and other key stakeholders, addressed the fund’s three main investment priorities: Communities & Place, Supporting Local Business and People & Skills.
In total, more than 40 fund interventions were available to select from, each supporting at least one of these three priorities.
Amber Valley Borough Council, in conjunction with the UKSPF Consultation Board, selected numerous funding interventions in the area that were considered most relevant to supporting and delivering local priorities within the key themes.
These include improvements to high streets and town centres, new community sports & leisure facilities to reduce health inequalities and business support measures to help meet the challenges of climate change and to drive employment growth, resilience, and sustainability.
Councillor Tony Harper, deputy leader and cabinet member for regeneration, said: "The entire Levelling Up agenda is an initiative that is very much welcomed in Amber Valley, as we, like many other areas, have not always received our fair share of centrally allocated funding.
"We’re absolutely delighted that the Government has now given its full approval to the council’s UKSPF investment proposals.
"The £2.9m additional funding we have managed to secure over the next couple of years will go a long way to supporting a host of initiatives that will materially benefit the community, now and in the future."
The UKSPF is designed to help places across the UK deliver so-called 'enhanced outcomes', recognising that even the most affluent parts of the nation contain pockets of deprivation and need support.
Each of the three priority spending areas were respectively selected to: build pride in the community, restoring a sense of belonging and regenerating town centres; increase pay, productivity, and employment opportunities; and support high-quality skills and training.
Additional proposals included an investment of £240,000 for community and voluntary sector organisations to bid for.
The council also plans to use the funding to make improvements to open green spaces and play areas and will work with partners to support those who are seeking employment or training opportunities in order to enhance their life chances.
A full list of the 41 selected interventions can be viewed with the Investment Plan, which will be published on the council’s website.
Following the Government announcement, work will now begin with local partners to explore project ideas that will support the delivery of Amber Valley Borough Council’s Investment Plan. Regular updates will be provided throughout.
Contact the team directly on 01773 570222 or email email@example.com