More than £10 million of Levelling Up cash in Aberystwyth has to be spent by 2025, a report has said, as Ceredigion County Council outlines more than £100m worth of funding for projects in the county.

Reports set to be put before cabinet members on Tuesday, 5 September says the council has been successful in obtaining a range of funds that will spent on projects throughout the next three years.

The council has been successful in applying for £10.9m of Levelling Up funding for Aberystwyth, which must be spent by March 2025.

“This cash will help transform the Old College in Aberystwyth, revitalise the promenade and create a ‘living harbour’,” the report said.

The council is also the lead authority for the UK Shared Prosperity Fund (UKSPF) in the mid Wales region, where the indicative funding for Ceredigion is £12.4m for the years 2022/23 to 2024/25. £2.9m is funding for capital projects with £9.5m for revenue projects.

The Mid-Wales Growth Deal, developed from the Vision for Growing Mid Wales, is expected to provide £110m in funding over a period of up to 15 years.

The updated Strategic Portfolio Business Case was formally submitted in March and release of the first tranche of Growth Deal funding is now expected during 2023/24 via a formal Grant Award.

The funding applications were part of the Boosting Ceredigion’s Economy plan “which will also require investment from the council”.

“The earmarked reserve available to support this now stands at £8m,” the report adds.