Call issued for UK Shared Prosperity Fund capital projects
Lancaster City Council is inviting applications for capital grants from the UK Shared Prosperity Fund.
Applications are being invited for capital funding from the UKSPF
The council has received £5.3 million from the UK Government through the UKSPF to invest over the next three years in projects which improve the lives of local people and the economy.
A short application window will open from Friday July 28 until 5pm on Friday August 11 for organisations to apply for funding for the remainder of year 2 (ending March 2024).
The available funding is entirely designated as ‘capital' funding, which means it can only be spent on ‘lasting assets such as buildings or equipment’ that are expected to be used for a period of at least one year. This may include enhancements to existing assets which:
• Significantly lengthen the life of the asset
• Significantly increase the value of the asset
• Significantly increase usefulness of the asset
The funding cannot be used for minor repairs and routine maintenance.
Grants are also only available to a select range of potential applicants as there are restrictions on who can apply.
Full details and the application pack can be found at www.lancaster.gov.uk/ukspf.
The UK Shared Prosperity Fund is a central pillar of the UK government’s Levelling Up agenda and provides £2.6 billion of funding for local investment by March 2025.
The Fund aims to improve pride in place and increase life chances across the UK investing in communities and place, supporting local business, and people and skills. For more information, visit https://www.gov.uk/government/publications/uk-shared-prosperity-fund-prospectus.
Last updated: 28 July 2023