Decision details

The Executive agreed the recommendations as outlined above namely:

1. To note the guidelines issued by Government for the Shared Prosperity Fund (SPF).

2. To submit the required Blackpool SPF Investment Plan by 1 August 2022 to access the pre-determined flexible allocation of £5,114,423 (capital and revenue), noting what scheme interventions it is choosing to prioritise and setting out measurable outcomes to be delivered, with the final content of the Investment Plan to be delegated to the Chief Executive after consultation after with the relevant Cabinet Member(s).

3. To submit the required Multiply Investment Plan by 30 June 2022 to access the pre-determined Multiply funding allocation of £770,711 with the final content of this Investment Plan to be delegated to the Chief Executive after consultation with the relevant Cabinet Member(s).

4. To approve the proposed approach to utilise the Town Deal Board (which incorporates  representation from the public, private, community and voluntary sectors), with its sub-group, the Town Deal Investment Panel, as the basis of the required “Local Partnership Group” for engaging stakeholders (with the Council as the accountable body), with membership to be kept under review as necessary.

5. For the overall management of this process to be led by the Growth and Prosperity Team with support from other Departments as required and specifically for the Multiply Investment Plan to be led by Adult Services and the Economic Services Department.

6. To note that an external consultancy, Capita, is to be appointed from the existing Council framework panel, to support the development of the Investment Plan process with Government funding provided for this support.

7. For the Executive to receive a future report on the Investment Plans and progress in the implementation of the Shared Prosperity Fund.