Community Ownership Fund accepting expressions of interest for its final round

The Government has announced that ahead of the launch of the fourth and final round of the £150 million Community Ownership Fund (COF), it has published a new Expression of Interest (EOI) form.

According to the Department for Levelling Up, Housing and Communities: 

• The new EOI has been simplified to give applicants a result within minutes, meaning that they will be able to see whether their project could be suitable for COF much quicker than before. 
• To enable the move to the new system, EOIs submitted prior to February 2024 will no longer be valid. 
• Organisations that wish to submit a full application to COF in a future application window, will need to complete a new EOI. 
• Only applicants who submitted an EOI in the new system will be informed when a bidding window is about to open and will receive the link needed to apply to COF.

The Community Ownership Fund helps community groups buy or renovate assets that would otherwise be lost to the community. 

Voluntary and community organisations from across the UK can apply as long as they are an incorporated organisation set up to deliver charitable purpose, social purpose or public benefit and have a viable plan for taking ownership of a community asset at risk and running it sustainably for community benefit. 

Proposals will need to prove the value of the asset to local people and that the asset can run sustainably for the long-term benefit of the community. Projects could include (but are not limited to):

• Community centres.
• Cinemas and theatres.
• Galleries.
• Museums.
• Music venues.
• Parks.
• Post office buildings.
• Pubs.
• Shops.
• Sporting and leisure facilities.

An updated prospectus and accompanying guidance for the final round are expected to be published soon. 

In the meantime, all prospective applicants, including those that have previously submitted a successful Expression of Interest (EOI) form, must submit a new EOI on the updated system if they have an interest in applying in the final round of the fund. 

Only applicants who submitted an EOI in the new system will be informed when a bidding window is about to open and will receive the link needed to apply to the fund.

Expressions of Interest are currently being accepted.