The Fund supports projects which fulfil one or a combination of the following aims. All of these are taken in context of saving an asset with the goal of community use:

• take ownership of a physical community asset at risk, such as land and buildings, which benefit local people
• renovate, repair, or refurbish an asset to make it sustainable for the long term
• set up or buy a community business
• buy associated stock, collections, or intellectual property
• move a community asset to a new, more appropriate location within the same community. This might be because a different location offers better value to continue the asset, or because the venue is in itself an asset of community value
• develop new assets where these relate to saving, preserving, or relocating a past or existing asset

Purpose: Apply for funding to take ownership of assets at risk of loss in your community

Type of fund: Competitive

Who can apply: Incorporated voluntary and community organisations, and parish, town and community councils (depending on eligibility requirements)

Capital funding available: Up to £2 million for all asset types, but we expect that most awards will be for up to £250,000 of capital funding.

Revenue funding available: No more than £50,000 or 20% of the total capital funding applied for, whichever is smaller. We encourage all groups to apply, as all projects will incur initial running costs.

Goals:

• support community groups to take ownership of assets which are at risk of being lost to the community
• support community groups where the asset is already in community ownership but needs essential renovations to be sustainable for the long-term benefit of the community
• strengthen community ownership across the UK
• strengthen the social infrastructure that helps communities to thrive

Key dates to note:

• Expression of Interest stage – always open
• Round 3 Bidding Window 3 – 6 December to 31 January 2024
• Applications must be submitted by 11:59am (before noon) on each bidding window’s respective closing date
• There will be 4 bidding windows each year at regular intervals
• March 2025 – Fund closes