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Melton Borough Council due to submit bid for £400k from Rural England Prosperity Fund

The Cabinet at Melton Borough Council is due to consider the development of a plan which will help secure their £400k allocation from the Rural England Prosperity Fund (REPF), at their meeting on Wednesday 12 October 2022.

The Rural England Prosperity Fund is a government fund that has been developed to further support rural areas to address the unique and local challenges they disproportionately face. This will be done through delivery of capital grants to fund suitable projects that will support the local economy and communities. The REPF is a rural contribution provided on top of the £1.2m UK Shared Prosperity Fund (UKSPF).

Melton Borough Council has been allocated £400,000 of funding. Photo: Tim Williams.

Melton Borough Council has been identified as one of the rural areas that could benefit from this additional funding and has been allocated £400k from the national pot.

To access the allocated funding, the council must consider how the money would be best spent within the borough and develop proposals to be submitted to government for consideration.

The bid put forward will be submitted as an addendum to the UKSPF investment plan that the council submitted in August this year, which the Government will review and consider. If successful the Rural England Prosperity Funding will be awarded to the council, alongside the UKSPF funding.

Rob Bindloss, Portfolio Holder for Growth and Prosperity said: “This is another fantastic opportunity on offer which will enable us to enhance our borough. The £400,000 we have been allocated can go a long way in supporting local businesses and communities.

We will work with our local partners, businesses, community groups and our MP to understand how we can best utilise this money and develop a plan that can have a positive impact on Melton, for our residents, visitors and those who work here.

“Supporting the local economy is a priority for us and I look forward to developing this bid to be as strong as possible and giving us the best opportunity to receive the funding available.”

Rutland and Melton MP Alicia Kearns said: "Great news! I am thrilled Melton Borough Council has been awarded £400,000 from the Rural England Prosperity Fund!

Combined with the £400k awarded to Rutland County Council this funding will provide a helpful boost for our local businesses, agricultural industries and infrastructure"

Following the cabinet meeting the Council will work with local organisations, community groups and businesses to develop and submit the required information to the Government before the 30 November 2022 deadline, with government timescales identifying that any subsequent local programme would be able to start by April next year.

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