Decision details

To agree the investment plan for the Council's 2025/26 allocation of Rural England Prosperity Fund.

n February 2025, formal approval was obtained for Boston’s UK Shared Prosperity Fund Investment Plan for the 2025-26, which following submission was approved by the Greater Lincolnshire Combined County Authority (GLCCA) in early April.

Subsequent to the approval of the council’s UKSPF investment plan for 2025/26, the Council has received confirmation from the GLCCA that, in addition to the approved allocation of £868,870.00 in UKSPF, the authority will also receive £128,779 in Rural England Prosperity Fund (REPF).

REPF is a capital funding stream made available to local authorities to support with capital investment in both a) community facilities in rural areas, and b) capital investment in supporting rural businesses. The council’s 22/23 – 24/25 UKSPF programme was underpinned by an element of REPF funding, and therefore the 25/26 allocation represents a continuation of funding for the authority.

For 2025/26 the authority has been allocated £128,779. Like UKSPF for 2025/26, this REPF fund is being ‘passported’ to the council from the GLCCA (who will retain accountable body status for REPF for 2025/26).

In order to secure the allocation, the GLCCA require the council to set out and agree a broad investment plan for the funding. This paper seeks agreement for a investment plan based around the following principles;

• A 50/50 split in funding allocations between the two key themes of the fund:
  • Capital investment in community facilities in rural areas
  • Capital investment in supporting rural businesses
• For those funds to be administered through the council’s two existing, leading programmes in those two themes, those being.
  • £64,390 (50%) of the funds to be earmarked for the Lincolnshire Community Foundation Grassroots scheme, which provides community groups and parish councils with capital grants for community investment up to a value of £25,000.
  • £64,390 earmarked for the Grants4Growth programme, which provides businesses with up to a 30% contribution towards capital investment in activity that directly unlocks business growth e.g. equipment
• Both allocations would serve to bolster both schemes in the context of the main UKSPF programme 2025/26.
• The approach set out above would form an addendum to the UKSPF investment plan for 2025/26 that was submitted to the GLCCA in February.

The Council would like to pursue an executive decision under urgency power to demonstrate political sign-off to that updated strategy, ahead of submission of the GLCCA by close of play on Tuesday 22^nd April (originally April 18th)

Do Nothing: This would result in the authority not submitting an investment plan for how it wishes to invest available REPF funding. The council would therefore not be able to access the funds.