The UK government has launched a new £150 million Community Ownership Fund to help communities across the UK take ownership of local facilities, community assets and amenities such as at-risk local pubs, theatres, post offices, sports grounds, parks and corner shops, etc. The move is part of the UK Government’s strategy to build back better from the pandemic and to foster a sense of community. The first bidding round closes on 13th August 2021 with another seven bidding rounds expected to take place over the next four years. The priorities for the first round are to invest in projects which are ready to access capital funding and complete their projects within 6 months and will be most suitable for community groups who have done preliminary work and have a viable business plan to take ownership of the local asset or amenity at risk. Matched capital grants of up to £250,000 will be available for most projects. In exceptional cases, up to £1 million matched capital grants will be available to help establish a community-owned sports club or help buy a sports club or sporting facilities at risk of being lost.
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