Prosperity Funds

About the Prosperity Funds

The UK Shared Prosperity Fund (UKSPF) and Rural England Prosperity Fund (REPF) are part of the government’s Levelling Up agenda. The primary goal of the funds is to build pride in place and increase life chances across the UK.

Cherwell District Council has been allocated £1782,777 of funding, to be spent on local investments in Cherwell by March 2025, with allocations as set out below:

Fund 2022/23 2023/24 2024/25
UKSPF £152,421 £304,841 £798,684
REPF - £131,708 £395,123

While the funds are to be used to address local needs and issues, the Government published clearly defined criteria that set the context. The funds can be used for three broad priorities:

  • Communities and Place
  • Supporting Local Business
  • People and Skills

Investment Plan Summary

The Council submitted a Local Investment Plan for both funds setting out our local priorities. Cherwell’s plan was developed in collaboration with community and business representatives and sets out a vision for supporting communities, growing business, and improving the skills of local people.

Six ‘delivery themes’ have been identified, against which Cherwell’s UKSPF and REPF funding will be prioritised:

  • Business retention and growth
  • Green economy
  • Investment in urban centres
  • Strengthening the rural economy and rural communities
  • Community and cultural development
  • Enhancing life chances and economic opportunities for our most vulnerable residents

Project Delivery

Projects are being delivered by both the Council and external organisations.

Any organisations who would like to register their interest can do so by completing this Prosperity Funds register of interest form. We will contact you once further detail is available.

REPF Capital Grant – Village and Rural Community Halls

Cherwell District Council is offering a grant fund financed by Rural England Prosperity Fund (REPF) and UK Shared Prosperity Fund (UKSPF). It is available to not-for-profit voluntary and community organisations. The purpose of the grant is to improve the sustainability and viability of village and rural community halls in the Cherwell district area (halls in Banbury and Bicester are not eligible).

Applications for grants has now closed.


 

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