The Local Regeneration Fund
In September 2025, the UK Government announced the Local Regeneration Fund – GOV.UK website 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 two key strategic and transformational projects including Ollerton Town Centre Regeneration and the Clipstone regeneration work.
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:
Newark Town Investment Plan (PDF, 14.2MB) - Newark Town Board website.