The £150 million Community Ownership Fund will launch its third bidding round on 31st May 2023.
This is part of a 4 year funding programme to support community groups in England, Scotland, Wales and Northern Ireland to take ownership of assets and amenities at risk of being lost, such as pubs. Voluntary and community groups can bid for funding to acquire important assets and run them for the benefit of the local community. The Fund will run until March 2025. The Government intends to run regular bidding windows throughout the year for applicants to submit a full application to the Fund.
This is a vital lifeline for communities who may wish to take over a local pub, as we know, pubs are the lifeline of our towns and villages here in Thirsk and Malton and I hope as many people as possible consider bidding for this funding.
A summary of the key changes to the eligibility requirements for the relaunch of the Fund include:
· Increasing the amount of funding all projects can bid for from £250,000 to £1 million;
· Reducing the match funding requirement; where previously the Community Ownership Fund would contribute up to 50% of total capital funds required, it will now contribute up to 80% of the total capital funds required, with applicants required to raise the other 20% from other sources of funding. Projects in areas of the greatest need will only need to raise 10%; and
· Allowing parish councils (and their equivalent town and community councils) to apply in the same way that community groups do now.
These changes will allow more beloved assets to be saved across the UK and will come in from Round 3 onwards.
Coupled with support from the Fund’s development support provider, who will provide assistance with developing project business plans, organisational governance and financial planning, and potential access to small revenue grants to secure specialist support, these measures will help support as many community groups as possible to save their treasured local assets, ensuring that important parts of our social fabric, such as pubs, sports clubs, theatres, and post office buildings continue to play a central role in towns and villages across England, Scotland, Wales, and Northern Ireland.
This Fund forms part of the UK Government’s Levelling Up agenda, building opportunity and targeting support towards places where community assets can make the most difference.
