The Assets of Community Value (England) Regulations 2012
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Assets of Community Value (ACV) form a part of the Community Right to Bid.
It acts as the first stage in identifying and nominating buildings or other assets such as land that have a main use or purpose of furthering the social wellbeing or social interests of the local community, and could do so into the future.
Once listed as Assets of Community Value with the local authority, the local community will be informed if they are listed for sale within the five year listing period. The community can then enact the Community Right to Bid, which gives them a moratorium period of six months to determine if they can raise the finance to purchase the asset.
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