About the fund
Area: The UK.
Suitable for: Incorporated organisations with a clear community purpose. Co-operative and community benefit societies, community interests companies, charities and companies limited by guarantee are all eligible.
Funding size: Capital grants of up to £250,000 and revenue grants of up to £50,000.
Application deadline: 13 August 2021.
The Government has launched the first round of bids for its £150m Community Ownership Fund. Open to community organisations across the whole of the UK, the scheme provides up to 50 per cent match funded capital grants to help them take ownership of ‘at risk’ assets.
What funding is on offer?
- Capital grants of up to £250,000 to meet up to 50 per cent of the capital costs of acquiring an at risk community asset (in exceptional cases up to £1 million where sports clubs/facilities are concerned)
- Part of the capital grant can also be awarded to help meet renovation costs, so long as this is combined with acquisition
- Revenue grants of up to £50,000, awarded on a non-match basis, to cover project development costs and to provide working capital post-acquisition
What counts as an ‘at risk’ asset?
- There is flexibility in what counts as an ‘at risk’ asset, but the focus is on physical assets that are up for sale, planned for sale or listed for disposal
- Derelict or neglected physical assets are also in scope, even if they are not currently an asset (through derelict or neglected status), so long as the bid demonstrates a clear plan for how the asset will benefit the community and be sustainable through community ownership
- In the vast majority of cases the fund cannot be used for the refurbishment of assets that are already community owned
- New-build projects to develop new assets or amenities, unrelated to saving or preserving an existing asset or amenity, are not eligible