Bidding open for Community Ownership Fund

Co-operatives UK says it sees “exciting potential for the fund to support a wave of community ownership'

Bidding in round one of the government’s £150m Community Ownership Fund opened on runs until 13 August.

Co-operatives UK says it sees “exciting potential for the fund to support a wave of community ownership and we’re eager to support organisations to seize this opportunity, where we can”.

The fund offers:

  • Capital grants of up to £250,000 to meet up to 50 per cent of the capital costs of acquiring an at risk community asset (in exceptional cases up to £1 million where sports clubs/facilities are concerned)
  • Part of the capital grant can also be awarded to help meet renovation costs, so long as this is combined with acquisition 
  • Revenue grants of up to £50,000, awarded on a non-match basis, to cover project development costs and to provide working capital post-acquisition

Eligible organisations

  • Must be incorporated, have a clear community purpose, an ‘asset lock’ that is either statutory (e.g. in a community benefit society) or rules-based (e.g. in a co-operative society)
  • Must be controlled by and/or accountable to the beneficiary community
  • Co-operative and community benefit societies, community interests companies, charities and companies limited by guarantee are all eligible.

Round two will be in December 2021 and round three in May 2022.

More details from Co-operatives UK

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