Borough offered £400K funding for business and community projects

Councillors will this week consider setting up a plan on how to use the funding which has been allocated by the government as part of the Rural England Prosperity Fund (REPF).

The money is intended to help rural areas address the particular challenges they face and is conditional on the proposals for using it being approved by the government.

Priority investment areas have been identified as the need to support rural businesses and communities.

Ahead of Melton Borough Council’s cabinet discussing the allocation at their meeting on Wednesday, Councillor 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.”

The funding will be given out through the delivery of capital grants to fund suitable projects that will support the local economy and communities.

Following Wednesday’s meeting the council will work with local organisations, community groups and businesses to develop and submit the required information to the government before the November 30 deadline, with any subsequently approved programme being able to start by April next year.

The REPF is a rural contribution provided on top of the £1.2million UK Shared Prosperity Fund (UKSPF), which the council submitted in August this year and which the government is still to review and consider.

If both of the funding allocations are approved the borough will benefit to the tune of £1.6million in investment for important local projects.