1.      That, Cabinet accept the Harbour Committee’s recommendation to invest in port infrastructure at Brixham Harbour, as set out in appendix 1 and that the Divisional Director of Economy, Environment and Infrastructure instructs TDA to develop a revised application for Levelling Up Fund Round 2.  

2.      That £125,000 capacity funding be utilised to procure services in support of the development of the Levelling Up Fund Round 2 application.

3.      That the Divisional Director of Economy, Environment and Infrastructure instructs TDA to develop the UK Shared Prosperity Fund Investment Plans using, principally but not exclusively, the emerging Economic Strategy as the foundation for this Plans.

4.      That the £20,000 UK Shared Prosperity Fund capacity funding be utilised to develop the UK Shared Prosperity Fund Investment Plans

5.      That, in order to meet the deadlines for the funding bids, the Director of Finance, in consultation with the Leader of the Council, be requested to exercise his delegated authority (under paragraph 5.5 of Financial Regulations) to approve the revised application for Round 2 Levelling Up Fund and the Divisional Director of Economy, Environment and Infrastructure be given delegated authority, in consultation with Cabinet Member for Regeneration, Tourism and Housing and the Section 151 Officer, to approve the UK Shared Prosperity Fund Investment Plans.

Both the Levelling Up Fund and UK Shared Prosperity Fund are designed to level up opportunity and prosperity, develop places and communities.  These focus on infrastructure that will drive regeneration, build pride in place, create high quality skills training, support pay, employment and productivity growth.

An alternative option would be to commission and external provider to develop the bids on behalf of Torbay Council however they will not have the local knowledge or partnership links needed. Furthermore, the procurement process will further delay progress.  Therefore this option was discounted.

The decision in respect of the Levelling Up Fund and UK Shared Prosperity Fund will come into force immediately as the decision maker has decided that any delay likely to be caused by the call-in process would prejudice the Public’ and Council’s interest. The Overview and Scrutiny Co-ordinator was consulted on 31 May 2022.

Government has recently announced Round 2 of Levelling Up Fund and UK Shared Prosperity Fund

The Levelling Up Fund is a £4.8Bn UK wide fund which will be allocated over 4 years and is designed to drive growth and regeneration in places that Government has assessed need it most to reduce economic inequality. Funding proposals are to be led by Local Authorities with support and endorsement from stakeholders, particularly MPs.

Government has also released guidance on UK Shared Prosperity Fund. Torbay has been allocated £1.76M under the core UK Shared Prosperity Fund programme with an additional allocation of £614,000 for the Multiply element focusing on adult numeracy.

The Cabinet’s approval was sought to develop and submit bids and investment plans to both the Round 2 Levelling Up Fund and the UK Shared Prosperity Fund.  At the meeting Councillor Long proposed and Councillor Morey seconded a motion that agreed unanimously by the Cabinet, as set out above.

None.