The UK government has launched a new £150 million Community Ownership Fund to help ensure that communities across England, Scotland, Wales and Northern Ireland can support and continue benefiting from the local facilities, community assets and amenities most important to them.
This fund will help small businesses, community organisations and residents take over pubs, theatres, shops and sports clubs at risk of closure.
Richard Fuller, MP for North East Bedfordshire said:
This Fund is a welcome initiative by this government to help protect the social fabric of communities.
Community groups will be able to bid for up to £250,000 in matched funding through the new fund to take over local pubs, theatres, shops and sports grounds at risk of closure. In some cases, up to £1 million will be made available to establish sports clubs or help to buy sports grounds at risk without community intervention.
The deadline for bids is 13 August 2021 for the first round.
The bidding prospectus provides detailed guidance on the purpose of the fund, eligibility criteria, funding and support assessment criteria and the decision-making process.
More information can be found here.