Thinking of using the Community Right to Bid? Take a look at our step-by-step guide to help you through the process.
Step 1: Mapping community assets
Every community has assets and potential within it – land and buildings, people, skills and networks, funding – but we don’t always recognise what resources we have in our midst. The first step is about getting organised and identifying land and buildings, services and activities… and opportunities.
Step 2: Identifying assets of community value
Once you’ve identified assets of community value, you will need to build momentum around listing the asset. How do you reach local people and build support? This step highlights key questions for anyone considering nominating an asset of community value.
Step 3: Nominating an asset of community value
The process of nomination and the role played by the local authority: who can nominate and how will your local authority deal with nominations? In addition you need to consider the criteria, process and exemptions.
Step 4: Getting ready to bid
For organisations which are considering bidding to buy an asset of community value. This is the point at which you develop your plans, assess the building and develop a business model. This resource helps you to write your business plan and seek the necessary investment.
Step 5: Triggering the moratorium
Triggering the full moratorium to give your organisation the opportunity to submit a bid to buy the asset. This step covers what happens when an asset of community value is put on the market, and how community interest groups can register an interest.
Step 6: Bidding for an asset of community value
This is where things get competitive. You have a limited time in which to finalise your bid and secure the necessary finances. We cover the key elements that must be in place in order to bid and different routes to sale including sale at auction.
Step 7: Managing the asset
And this is where the hard work really starts! You have bought the asset of community value – now you must run it successfully so that it remains an asset of community value for the long term. This step looks at implementing your business plan and highlights the key practical issues to consider before and/or when you move in.