More community projects are set to benefit from funding to rescue prized local assets, such as sports clubs, music venues and historic buildings, as the Department for Levelling Up, Housing and Communities launches the third round of its £150 million Community Ownership Fund today (12 May 2023).
Changes to the fund will make it easier than ever for community groups to seize back control of prized local assets that are at risk of being lost forever – helping to strengthen and level up communities and restore optimism, hope, and pride in the UK.
The amount of funding all projects can bid for will be increasing from £250,000 to £1 million, meaning that groups can bid for more funding to help save bigger projects such as Gigg Lane, home of Bury FC, from being lost which are at the heart of local communities.
The requirement for match-funding is also being reduced to as low as 10%, making it easier for communities to acquire assets without raising additional private funding. For the first time, parish councils will also be able to apply to the Fund, which has previously only been available to charities and community groups.