Search starts for ambitious Peterborough projects to secure share of £4 billion Levelling UP fund

The appeal has been made by Peterborough City Council which is seeking applications from groups seeking an investment in regeneration, culture and transport schemes.

The plea comes after Peterborough was named by Chancellor Rishi Sunak in his Budget last month as a priority area to get a share of the £4.8 billion Levelling Up fund.

The funding is available for areas to submit bids during 2021-22 with the focus on projects that require up to £50 million of investment.

To have a chance of being chosen for funding, projects must deliver a visible impact and have long-term strategic plans for local growth and generation.

They must be sited within the Peterborough parliamentary constituency, represented by Paul Bristow MP, or in the North West Cambridgeshire constituency, represented by Shailesh Vara MP.

A council spokesperson said: “Before starting a bid, applicants should read the Levelling Up Fund Prospectus.

“The prospectus provides detailed information on the objectives of the fund, the types of projects it intends to support and how it operates, including the process and selection criteria that will be used to assess bids.

The deadline for submitting an expression of interest is May 10 at 9am.

Shortlisted bids will be advised to fill out a longer, Government application form afterwards, with round one bids required by June 18 this year.

Further information on how to apply can be found at www.peterborough.gov.uk/council/planning-and-development/regeneration/levelling-up-fund

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Peterborough is ‘priority’ in £4 billion Levelling Up Fund