Cotswold District to receive £1,000,000 from UK Shared Prosperity Fund

Cllr Tony Dale, Cabinet Member for the Economy and Transformation, said “We’ve been through a thorough process to work out how best to use this funding to support local communities, businesses and people. 

“Year one projects have been confirmed by an evaluation panel, made up of the Council and local partners, who have carried out assessments of all projects submitted.

“This funding is really going to help us deliver some exciting projects in the Cotswold District and I am looking forward to seeing the benefits that these will bring.”

The UKSPF funding is spread over three financial years, running until 31st March 2025, with the majority of the funding coming in the final year. The funding has three investment priority themes, which are:

• Communities and Place
• Supporting Local Business
• People and Skills (for 2024/25 only)

The projects chosen for year one are already well-developed and can be delivered rapidly as the funding needs to be spent by 31st March this year.

Year one projects receiving funding from the UKSPF include:

• A feasibility study in bringing the Old Station building in Cirencester back into use.
• Clean and Green projects (including sustainability initiatives and public realm improvements) across the District
• Initiatives to combat littering and fly tipping across the District
• A feasibility study into a cycle path from Bourton-on-the-Water to Kingham, together with other measures to promote active travel
• A promotional campaign to encourage people to visit town centres and support local businesses

Applications will be sought for projects to fund in years two and three, which will be based on the ‘interventions’ set out in the Council’s submission to the government, which has now been approved.

The key areas of focus for investment in years two and three will be:

• Improving green spaces
• Supporting town centres
• Energy efficiency
• Active travel
• Business Support
• Bringing forward employment sites
• Supporting people into work
• Green skills 

If the annual funding allocation is not spent, it has to be repaid to the government so the deliverability of projects has been a key consideration to manage the risk of underspend.

The fund can be used to give grants to public or private organisations, commission third-party organisations, procure services  or provide loans.

You can find out more about the funding and the projects it will support at www.cotswold.gov.uk/SPF