The Fund will run until 2024/25 and there will be at least 8 bidding rounds in total. Charities and community groups can apply to the Community Ownership Fund (COF) to take ownership of assets at risk of being lost, such as pubs, theatres and parks. Charities can bid for grants of up to £50,000 in revenue funding, and the government will match fund up to £250,000 in capital costs.
The £150 million COF is for communities across the United Kingdom. It has been set up to help communities take ownership of assets and amenities at risk of closure. It will run for 4 years.
Voluntary and community organisations can bid for match funding.
Funding may support the purchase and/or renovation costs of community assets and amenities, subject to the full eligibility criteria outlined in this prospectus.
The fund will support a range of community ownership proposals. For example, projects may include:
- sporting and leisure facilities
- cinemas and theatres
- music venues
- post office buildings
- 13 August 2021 – deadline for submitting applications to the first bidding round
- December 2021 – round 2 will open
- May 2022 – round 3 will open