The UK government has launched a new £150 million Community Ownership Fund to help communities across the UK take ownership of local facilities, community assets and amenities such as:
sporting and leisure facilities
cinemas and theatres
post office buildings
The move is part of the Government’s strategy to build back better from the pandemic and to foster a sense of community. The first bidding round closed on 13th August 2021, but another seven bidding rounds are expected to take place over the next four years. There will be further bidding rounds in December 2021 and May 2022.
Matched capital grants of up to £250,000 will be available for most projects. In exceptional cases, up to £1 million matched capital grants will be available to help establish a community-owned sports club or help buy a sports club or sporting facilities at risk of being lost.
The Community Ownership Fund will provide up to 50% of total capital costs, matching other funds and resources raised by the applicant. Applicants will need to demonstrate they have raised other funds to cover the total capital costs of their project.
Revenue grants of up to £50,000 (up to 20% of projects costs) are also available and these do not need to be matched.
For any other questions you may have on the Community Ownership Fund, please contact the team at COF@communities.gov.uk