The Scottish Government established the five year £325m Place Based Investment Programme (PBIP) in 2021/22. Underpinned by the Place Principle, this aims to support community-led regeneration, town centres and the 20-minute neighbourhood ambitions.
The main objectives of the programme are to:
- link and align place based initiatives and establish a coherent local framework to implement the Place Principle
- support place policy ambitions such as town centre revitalisation, community led regeneration, 20-minute neighbourhoods and Community Wealth Building
- ensure that all place based investments are shaped by the needs and aspirations of local communities,
- accelerate the ambitions for tackling inequality and disadvantage, wellbeing and inclusive economic development, net zero, community involvement and ownership
Local Government is a key partner in delivering the programme and will receive a share of the funding over the five years to support and advance local priorities. A £0.761m allocation is anticipated for the current financial year.
Proposals are identified from the Regeneration Delivery Plan action programme and an assessment of the:
- projects stage of development
- fit with the fund objectives and priorities
- potential benefits
- budget available
- ability to secure match funding
- deliverability of the project(s) within funding timescales
This approach aims to implement a range of projects that deliver impactful improvements in line with the Regeneration Delivery Plan and the various funding streams ambitions.
Expenditure of funds is approved annually by the North Ayrshire Cabinet: