Community Ownership Fund

The Community Ownership Fund was announced in early March. This ÂŁ150m UK-wide fund enables community and other groups to apply for match funding of up to ÂŁ250k for costs related to taking on ownership, purchase and management of community assets which can include theatres and cultural buildings. Further information here.

Levelling Up Fund

The Levelling Up Fund is open to every local area across the UK and is designed to support investment in local places and enable local people to “select genuine local priorities for investment.” The Fund will be delivered in partnership with local areas across England, Scotland, Wales, and Northern Ireland. A list of priority local authorities in England, Scotland and Wales has been published and £0.8bn is available for the developed regions: Read the prospectus here. Levelling_Up_prospectus (1)

The first round deadline is 18 June, and they will prioritise bids that can demonstrate investment or begin delivery on the ground in 21/22. All monies must be spent by Mar 2024 (or Mar 2025 by exception). Only local authorities can apply but they must consult widely and in general have the support of local MP(s).

Key elements of the fund:

Includes Transport, Town Centre Regeneration and Culture as follows:

â—Ź Upgrading and creating new cultural and creative spaces including sports or athletics facilities, museums, arts venues, theatres, libraries, film facilities, prominent landmarks or historical buildings, parks or gardens.

â—Ź New, upgraded or protected community hubs, spaces or assets (and associated green spaces).

â—Ź Acquiring and refurbishing key cultural and heritage sites including hotels and historic buildings.

â—Ź Local authorities can make multiple bids of up to ÂŁ20m if they encapsulate more than one parliamentary constituency within their boundaries

â—Ź Bids can be for single projects or a portfolio of projects

â—Ź There will be bidding rounds every year and local authorities are encouraged not to bid in the first round if they are not ready

â—Ź Capacity funding will be allocated to local authorities most in need of levelling up and the UK government has identified priority local authority areas which will form part of the decision making for the fund. All local authorities across the UK are eligible to apply