Funding Opportunities

Government Launches Community Ownership Fund

Description

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
  • music venues
  • museums
  • galleries
  • parks
  • pubs
  • post office buildings
  • shops

The move is part of the UK Government’s strategy to build back better from the pandemic and to foster a sense of community. 

The first bidding round closes on 13th August 2021 with another seven bidding rounds expected to take place over the next four years.  The priorities for the first round are to invest in projects which are ready to access capital funding and complete their projects within 6 months and will be most suitable for community groups who have done preliminary work and have a viable business plan to take ownership of the local asset or amenity at risk.

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.

The online portal for applications is now open. A full application template is published at gov.uk. Applicants should use the template and guidance document to prepare all the information required for their application, prior to submitting their application.

Useful Links:

Community Ownership Fund: prospectus

Guidance Document