Decision details

Economic Recovery Fund - Round 2 Update

Decision Maker: Economic Development and Skills Policy Committee

Decision status: Recommendations Approved



The committee considered a report of the Executive Director of City Futures providing an update on the second round of the Economic Recovery Fund (ERF2). The report also set out the proposed route to consider whether there should be any further rounds of funding and sought approval to change the project previously approved for ‘Heeley Green and Newfield Green’ with a project for ‘Newfield Green and Gaunt Shopping Precinct’, to be delivered in its place.




RESOLVED UNANIMOUSLY: That the Economic Development and Skills Policy Committee:-


·       Note the progress in delivering the second round of funding.

·       Note the intention to appoint an independent agency to conduct an evaluation of ERF2 and consider the future of ERF.

·       Approve the proposed project for Newfield Green and Gaunt Shopping precinct in the ERF2 programme, in place of the previous proposal for Heeley Green and Newfield Green.




Reasons for Decision




The ERF Steering Group and the team leading the Gleadless Valley Master Plan are aligned in wanting to see allocated money spent in this area. There is high confidence in the team’s ability to make a success of the project and commitment to delivering these outputs and outcomes within the delivery period for the project. There are significant synergies to be gained from delivering ERF in an area that will be undergoing significant change in its housing stock and an opportunity to support the retail areas in those locations so they feel that they have a stake in and can benefit from that wider investment.




Alternatives Considered and Rejected




Regarding the proposal for Newfield Green and Gaunt Parade alternatives have been considered as follows:

       The Gleadless Valley Masterplan Team have led on local engagement to try and identify an alternative lead organisation for this project, however none were forthcoming.

       Consideration was given to procuring an organisation that could act as an accountable body and project delivery partner for this project, however, this was felt to be undesirable given the clear synergies of delivering ERF in this area alongside the broader Gleadless Valley Masterplan.




Publication date: 21/03/2024

Date of decision: 20/03/2024

Decided at meeting: 20/03/2024 - Economic Development and Skills Policy Committee

Accompanying Documents: