Final Round of Community Ownership Funding Open - Closing Soon!
This is the fourth and final chance to bid for this fund which lets communities apply for funding to take ownership of assets at risk of loss. Can be community centres, sports clubs, pubs, open space, or any other asset at risk of closure.
Type of fund: Competitive – AND VERY SHORT WINDOW
Who can apply: Incorporated voluntary and community organisations, and parish, town and community councils (depending on eligibility requirements)
Capital funding available: Up to £2 million per grant for all asset types - Most awards will be for up to £250,000 of capital funding. Match funding is required at 20%.
Revenue funding available: No more than £50,000 or 20% of the total capital funding applied for, whichever is smaller. All groups applications are encourages to apply for revenue funding as all projects will incur initial running costs.
Goals
Support community groups to take ownership of assets which are at risk of being lost to the community
Support community groups where the asset is already in community ownership but needs essential renovations to be sustainable for the long-term benefit of the community
Strengthen community ownership across the UK
Strengthen the social infrastructure that helps communities to thrive.
Publicly owned assets
Alongside the mandatory eligibility requirements that every applicant will need to fulfil, bids relating to publicly owned assets will also need to demonstrate the following additional requirement:
The responsibility for delivering any statutory services is not transferred from the public authority to the community organisation
The Community Ownership Fund grant received will only be used for renovation and refurbishment costs following the transfer of an asset into community ownership; the public authority will not credit a capital receipt from Community Ownership Fund funding, except in the case of parish, town and community councils.
Key dates to note:
Expression of Interest stage - always open
Round 4 Window 1 is open from 25 March 2024 to 10 April 2024
Round 4 Window 2 will open in late May
For more information and to apply, visit:
Community Ownership Fund round 4: prospectus - GOV.UK (www.gov.uk)