Building asset Zest

Please note that The Community Ownership Fund (COF) is now closed. There will be no further application windows on the COF programme

The government remains committed to the communities' sector and community empowerment. There will be further announcements relating to communities in the new year, including on the community ownership of assets.

Below you can find answers to common questions about the Community Ownership Fund.

General questions about the Community Ownership Fund

We were hoping for another COF application window to open so we could apply to save our asset, but the fund is now closed – what can we do now? 

We understand that groups interested in applying to the COF will be disappointed that the fund is now closed.

We strongly encourage groups to use the guidance and tools available through the MyCommunity website. These tools have been designed to help any organisation seeking to save an asset that is important to them and their local community and will remain available beyond the COF programme. The resources include:

  • A Social Investment Hub containing information on the repayable finance options available to help an organisation achieve a social purpose.

There are various resources available in the Community Assets and Ownership Hub to help with applying to other funding sources, for example, a business case checklist with templates for cashflow forecast and risk registers, top tips guides, and webinars that may be helpful to you.

We have a package of support with the support programme provider, but as the fund is now closed can we still use our support days?

Groups who are currently receiving in-depth support will be able to use the support to help identify other funding streams that they may be able to apply to. There’s also guidance and tools available on the My Community website that would help any organisation seeking to save an asset that is important to them and their local community.

Will there be a similar fund to COF opening anytime soon?

The Devolution White Paper, which was published on 16th December, set out plans which demonstrate a commitment to communities and there will be further announcements relating to communities in the new year, including on the community ownership of assets. 

The Government will deliver on its manifesto commitment to replace the community ‘Right to Bid’ with a strengthened ‘Right to Buy’ Assets of Community Value, creating a more robust pathway to community asset ownership.

Why has it taken so long to make a decision with Round 4.1 applications?

Round 4 Window 1 of the fund opened on 25th March and closed 10th April 2024. Outcomes on applications usually take around 2-3 months, however, due to the calling of the general election on the 22 May and subsequent pre-election period, the fund was paused whilst awaiting the outcome of the election.

When the Government took office in July, the Chancellor asked officials to prepare an assessment of the state of the UK’s spending inheritance from the previous Government which therefore meant Round 4 of the COF was paused.

Following the outcome of the Spending Review, at the direction of Ministers, officials at the Ministry of Housing, Communities and Local Government contacted all those applicants whose applications had met the minimum benchmark score to be considered for funding and undertook deliverability checks to determine whether their projects were still viable.

Why has the COF closed early if the full £150 million hasn’t been allocated to projects?

A total of over £135m to has been allocated to 409 projects across the United Kingdom.

A further £8.5m has been used to provide pre and post-application support to projects via our support programme where some groups were allocated small revenue support grants ahead of applying, to support them to procure professional services, as well as to fund the evaluation of the effectiveness of COF along with other administrative costs.

When the Government took office in July, the Chancellor asked officials to prepare an assessment of the state of the UK’s spending inheritance from the previous Government. The Government has prioritised awarding £36.2m in funding to 85 Round 4 Window 1 applicants who met the minimum scoring criteria and following further checks, were deliverable.

Any unallocated funding or funding returned by projects that have had to withdraw will be used to fund other key Government priorities.

Round 4.1 Successful applicants

We applied in Round 4.1 and were successful. However, the delay in announcing successful groups means that we may need additional help - can you help?

Each of the projects funded in this window will be prioritised for post-application support from the support programme to help ensure their success. Please make sure to look out for an email or call to arrange this support.

Round 4.2 unsuccessful applicants

Why has the fund given me feedback if there isn’t another window to apply to?  

Aspects of a Community Ownership Fund application, such as a business plan, will be integral to any attempt by an organisation to apply for alternative sources of funding. This feedback, twinned with the guidance and tools through the My Community website, will help organisations who are seeking to save a local asset that is important to them

We applied in Round 4.1 and were unsuccessful. The delay in the decision-making has put our project at further risk – is there any help for us?

We strongly encourage groups to use the guidance and tools available through the MyCommunity website. These tools have been designed to help any organisation seeking to save an asset that is important to them and their local community and will remain available beyond the COF programme. The resources include:

  • A Social Investment Hub containing information on the repayable finance options available to help an organisation achieve a social purpose.

There are various resources available in the Community Assets and Ownership Hub to help with applying to other funding sources, for example, a business case checklist with templates for cashflow forecast and risk registers, top tips guides, and webinars that may be helpful to you.

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