Community Ownership Fund launches on May 31 for community organisations

Aberdeenshire communities are being advised that round three of the UK Government’s £150million Community Ownership Fund launches on May 31.

Managed by the Department for Levelling Up, Housing and Communities, the Community Ownership Fund is open to voluntary and community groups to take ownership of important local assets and amenities which are at risk.

Up to £1million will be available for all eligible asset types and the fund will contribute up to 80% of total capital required. In exceptional cases the Community Ownership Fund may contribute up to 90% of total capital required.

Community ownership of assets can boost local connections, participation and pride of place, and bolster community resilience. By investing in the capacity of communities across the UK to take ownership of the places and spaces that matter to them, the fund will help to strengthen the social infrastructure that supports communities to thrive.

Funding on offer can support the purchase and renovation costs and is delivered as a grant.

Projects might include sports and leisure facilities, cinemas and theatres, music venues, museums, galleries and parks. But the fund will also consider projects involving development of pubs, Post Office buildings or shops.

Voluntary bodies, community organisations and community councils can apply, however they must present a viable plan for taking ownership of a community asset that is at risk and demonstrate how they will operate it in a sustainable manner for the benefit of the community.

Funding applications will only be accepted from organisations set up to deliver charitable purposes either for social purpose or public benefit.

Community groups and community councils should read the full prospectus and assessment criteria guidance for the current round of funding before they apply.

The prospectus is available here: https://www.gov.uk/government/publications/community-ownership-fund-prospectus

Interested groups should then submit their initial expression of interest by completing a question form. For any queries relating to submitting an expression of interest contact COF@levellingup.gov.uk

If successful, the community group or organisation can then submit a full application for the fund. Unsuccessful applications will be provided with feedback on why they were ineligible.