The Local Enterprise Partnership (LEP) has been asked by Government to prepare a Structural and Investment Fund Strategy setting out how it will spend 2014-20 EU funds.

That the EU funding strategy currently being developed by the Local Enterprise Partnership (LEP) and the thematic priorities within this are endorsed.

To ensure Torbay demonstrates it’s support of the priorities included within the draft Structural and Investment Fund strategy which will result in Torbay having influence over the final document and ultimately the available funding for activities within the Torbay area.

Alternative options are set out in the submitted report.

The decision will come into force and may be implemented on 1 October 2013. The Overview and Scrutiny Co-ordinator was consulted and agreed that the decision was urgent and it would not be in the Council or the public’s interest for call-in to apply.

The Government is devolving much of the administration of EU funding for 2014 to 2020 to Local Enterprise Partnerships (LEPs).  This includes being allocated funding which LEPs must decide how to spend.  The Heart of the South West LEP has been allocated €118 million over 7 years.  To receive the funding LEPs must create a Structural and Investment Fund strategy to be submitted to the Government by 7 October 2013.

LEP partners, particularly Local Authorities, are requested to endorse the developing strategy to demonstrate to Government that it is supported and will meet local need.

The Mayor supported the recommendation of the Council made on 26 September 2013, as set out in his decision above.

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