The Prospectus for the third round of the UK Government’s Community Ownership Fund has been published. This fund will run until April 2025 and aims to help communities take ownership of assets and amenities at risk of closure, so is only open to bids from eligible community organisations.
What is COF?
The Community Ownership Fund is a £150m UK-wide fund to help communities take ownership of assets and amenities at risk of closure;
It is open to voluntary and community organisations and supports the purchase and/or renovation costs of assets in their local area;
Groups can bid Up to £2 million for all asset types, but they expect that most awards will be for up to £250,000 of capital funding;
Since launch the fund has awarded £5,168,595of funding to projects in Scotland, covering a variety of assets, such as a visitor centre, town hall and a pub.
Applying to the fund is a two stage process, with bidders having to successfully pass the Expression of Interest stage before they can submit a detailed application to one of the subsequent bid windows. There will be four bid windows per year and applicants who have successfully passed the EOI stage can apply to any of the subsequent bid windows.
Expression of Interest stage - always open
Round 3, Bidding Window 2 will be open until 11.59am on Monday 11 September 2023.
Successful local projects from Round 2 (Window 3) include Fife Employment Access Trust at Silverburn Flax Mill.
For advice and support with queries, please contact the development support provider via the enquiry form on the My Community website. This website also contains useful information and webinars to help develop your proposals including,