The Portfolio Holder for Finance & Investment presented the report which outlined the Council’s proposals for the Rural England Prosperity Fund (REPF) addendum to the UK Shared Prosperity Fund investment plan. The Council had received a provisional allocation of £501,000, to support the rural economy. The Finance & Investment Advisory Committee supported the report.

The Economic Development Officer explained that this support would primarily be through grants, which would be distributed through the Executive Local Action Group. She advised that the Council would be working within the West Kent Partnership to use business retention funding to facilitate grant distribution, but that the £501,000 from the REPF would be exclusively used within the District.

She advised that following comments made at the Finance & Investment Advisory Committee, if the allocation was successful, Members could be involved in identifying the projects. Members were advised of a typographic error in paragraph 23 which should read 2024/25.

Public Sector Equality Duty

Members noted that consideration had been given to impacts under the Public Sector Equality Duty.

Resolved: That

a)    the proposals, which will form the Rural England Prosperity Fund addendum, alongside the previously approved UK Shared Prosperity fund investment plan, be noted; and

b)    the Strategic Head of Property & Commercial following consultation with the Leader of the Council, be authorised to take the necessary decisions and actions required to finalise the addendum and accept the allocation of funds and to implement and administer the scheme, in accordance with the requirements and priorities of the fund; and

c)    that District Councillors have an upfront role to promote the Rural England Prosperity Fund to projects that may be suitable for funding, be noted.