Community Ownership Fund – Now Open
The UK government has launched a new £150 million Community Ownership Fund to help ensure that communities across England, Scotland, Wales and Northern Ireland can support and continue benefiting from the local facilities, community assets and amenities most important to them.
What it will fund
Voluntary and community groups can bid for up to £250,000 of match funding to help them buy or take over local community assets at risk of being lost, to run as community-owned businesses. Funding may support the purchase and/or renovation costs of community assets and amenities.
The priorities for the first round are to invest in projects which are ready to access capital funding and complete their projects within 6 months. The fund will support a range of community ownership proposals. For example, projects may include:
- sporting and leisure facilities
- cinemas and theatres
- music venues
- post office buildings
Proposals will need to prove the value of the asset to local people and that the asset can run sustainably for the long-term benefit of the community.
How to apply
The Fund will run until 2024/25 and there will be at least 8 bidding rounds in total. The deadline for applications to the first bidding round is 13 August 2021. Round 2 will open in December 2021 and Round 3 in May 2022.
Visit the UK Government website to access detailed guidance on eligibility criteria, the full prospectus and application form.
Find other funding opportunities through the SRN Funding Search here.