UK Shared Prosperity Fund (UKSPF)
Contents
- Support for Businesses
- UK Shared Prosperity Fund (UKSPF)
UK Shared Prosperity Fund
Following Government approval of the North East Lincolnshire Investment Plan submitted earlier this year outlining how it would deliver the UK Shared Prosperity Fund (UKSPF), the scheme is now launched with expressions of interest invited for eligible projects and activities.
The UKSPF is a mixed revenue and capital allocation aimed at building pride in place and increasing life chances across the UK, replacing European and other funding streams which end in 2023.
The Council are committed to supporting activities across the three core strands of Communities & Place, Supporting Business and People and Skills.
Priority area 1 – Communities and Place, and Priority area 2 – Supporting Business
Revenue funding
| Priority area | Year 2 – April 2023 / March 2024 | Year 3 – April 2024 / March 2025 |
|---|---|---|
| Community and neighbourhood projects | Revenue – £175,000 | Revenue – £575,000 |
| Supporting local business | Revenue – £175,000 | Revenue – £575,000 |
To ensure all revenue funds are utilised in each year, where funding has been allocated to a priority area, this fund will remain open for project submissions until
- all funds are committed,
- or 1 September (whichever is soonest)
Any funds not allocated by 1 September within the delivery year, will be pooled and opened to a wider audience to allow projects on a waiting list in another priority area to come forward.
Revenue funding of up to 75% of the eligible project cost is available, but preference will be given to organisations who can demonstrate how this funding will enable the project to become sustainable in the future.
Capital funding
| Year 2 – April 2023 / March 2024 | Year 3 – April 2024 / March 2025 |
|---|---|
| Capital – £256,000 | Capital – £672,000 |
Capital funding is not ringfenced to any priority area and will be awarded to successful applications on the following basis:
- Capital grants will be awarded at a maximum intervention rate of 40% against the full eligible cost of the project. For community/neighbourhood projects which do not fall within the boundary of the Grimsby Town Centre Activation Fund, we can be flexible on the intervention rate in exceptional circumstances if the project is likely to have a significant impact on a community or neighbourhood and any benefits/profits reinvested into the community.
- Year 2 – Maximum of £25,000 towards improvements/construction of buildings which meet the eligible criteria in a priority area. The council will aim for a minimum of 10 projects at an average of £15,000 per project.
- Year 3 – Maximum of £75,000 towards improvements/construction of buildings which meet the eligible criteria in a priority area. The Council will aim for an average grant intervention of £50,000. The council will also aim for a minimum of 10 projects, at an average of £42,000 per project.
- A project can apply for a capital grant in both years for a phased project, but phase 1 (Year 2) must be completed and the grant claimed within that financial year, including the 60% match funding.
- Capital grants for digital infrastructure will be capped at £6,000. Government guidance suggests that this can only be used for upgrades to broadband speed, this will be reviewed by the project team and any updates on other allowable activities communicated.
- Capital grants for decarbonisation projects will be capped at £10,000. The council will aim for a minimum of 15 grants in year 2, and 32 grants in year 3 at an average of £6,000 per project.
Priority area 3 – People and skills
People and Skills activities are for Year 3 only (March 2024 – April 2025). We expect to utilise up to £800,000 for these activities. Applications in the first round closed on 1st September 2023. A second call for projects is open until 5pm 29th February. Details can be found In the UKSPF call for projects document.
If you have any queries, contact the grant delivery team by email at [email protected].
Related documents
Eligibility and guidance (PDF, 252KB)
Output definitions and evidence requirements (PDF, 377KB)
Frequently asked questions (PDF, 218KB)
Expression of Interest form 2023-24 (Word, 133KB)
Application Form – People and Skills 2024-25 (Word, 86KB)
Contact details
Grant delivery team, Municipal Offices, Grimsby, North East Lincolnshire, DN31 1HU
Email: [email protected].