Following the last week’s budget, the government has published details of its highly anticipated £4.8bn Levelling Up Fund. The Fund will support local areas across the UK to improve ‘the infrastructure of everyday life’, strength their economies and build civic identity.
It will be run as a competitive process and will be open to bids from local authorities in England, Scotland and Wales. A different approach is being taken in Northern Ireland.
The first round of the Fund will focus on transport investments, regeneration and town centre investment, and cultural and heritage investment.
Local authorities can bid for grants of up to £20m, although transport projects can bid for Funds up to £50m if there is an exceptional case. Different eligibility rules apply to different tiers of local government. The government expects a local financial contribution of at least 10% of the total cost of each project.
The government has published a prioritised list of areas based on need that will be used during the assessment process.
For the first round, opening in June 2021, the Fund will prioritise ‘shovel-ready’ projects that begin delivery in 2021-22.
To apply for investment in the first round of the Fund, bids must be submitted to the Ministry of Housing, Communities and Local Government by Friday 18th June 2021.
Template documents will be published to support the bidding process. The Fund has indicated that these will be consistent with the HM Treasury Green Book Five Case Model approach.
Download a briefing with all the key points from the Levelling Up Fund here.
The Prospectus for the Levelling Up Fund, including list of priority areas, is available here.
To learn more about our Levelling Up Delivery Partnership and how we can help you click here or contact andrew@mutualventures.co.uk.