The Local Regeneration Fund
In September 2025, the UK Government announced the Local Regeneration Fund which considered a consolidation of existing local growth capital funds (Levelling Up Fund, Towns Deals and the Path Finder Pilot). Newark and Sherwood participates in the Local Regeneration Fund Programme as a recipient of previously referred to Levelling Up 3 Funds (Sherwood) and the Towns Deal (Newark), as set out below.
Sherwood
In October 2022, the UK Government announced that the local 'Shaping Sherwood's Revival Programme' had successfully secured £20m investment through the Levelling Up Round 3 initiative. This comprises 2 key strategic and transformational projects including the regeneration of Ollerton Town Centre and the Clipstone Regeneration Scheme.
Newark
In September 2019, the government invited 100 towns, including Newark, to develop proposals for a Town Deal, as part of the £3.6 billion Towns Fund (now integrated within the Local Regeneration Fund).
In January 2020 the Newark Town Board was set up to govern this funding, and make key investment decisions relating to the award of £25m funding to invest in local transformational projects to support economic growth and prosperity across the town.
In order to draw down the £25m funding, in July 2020 the Newark Town Board submitted the Newark ‘Town Investment Plan’ which outlined thirty projects to span the next 30 years, including plans to regenerate the town centre, boost business and improve infrastructure. The government previously announced that this plan was accepted and projects are now completed or well-advanced in their delivery. A copy of the Newark Town Investment Plan can be found here:
Pride in Place Programme
In March 2025, Newark was awarded up to a further £19.5m over the next 10 years (2026 - 2036) through the UK Government’s Pride in Place Programme. This investment is also overseen by the Newark Town Board in addition to the Newark-based Regeneration Fund projects, with the board responsible for working with key partners to develop investment plans.
Programme delivery is set to commence from April 2026 following the recent submission of the Newark Town Board's PiPP Regeneration Plan to the UK Government. This document sets out the high-level aspiration and vision identified by the board and local community for up to £19.5m of PiPP funding over the next decade.
A copy of the plan is available here:
The board is currently working to develop programme plans further, including identifying initial projects for delivery within the first four years of the programme (2026 - 2030). For more information, please visit the Newark Town Board website.
Newark Town Board
The Newark Town Board is the vehicle through which the vision and strategy for the town is defined. The board is responsible for overseeing the £25m awarded to Newark through the Local Regeneration Fund and the £19.5m awarded to Newark through the Pride in Place Programme and is responsible for making key decisions relating to projects within the investment programmes.
The Newark Town Board includes representatives from the local business and education sectors, relevant national government organisations and arm's length bodies, local community organisations, local authorities and the local MP.
The Newark Town Board membership list and Local Assurance Framework is available on its website: Board Members - Newark Town Board
Newark Town Board meetings
The published agendas, papers and minutes from the Newark Town Board meetings can be viewed on its website: Meeting agendas and minutes - Newark Town Board.