The Localism Act 2011 introduces 'Assets of Community Value' (also known as Community Right to Bid).
The legislation enables local groups to nominate a building or piece of land that is important for the social well-being of the area for inclusion on the local authority's 'List of Assets of Community Value' and bid for it if it comes up for sale.
East Cambridgeshire District Council has developed an 'Assets of Community Value Protocol' which outlines the process that will be followed in East Cambridgeshire for qualifying voluntary and community bodies to exercise the 'Community Right to Bid' and the process that the owner must go through if they choose to sell the asset, if listed on ECDC's list of Assets of Community Value. Please see the documents below:
- Assets of Community Value Protocol
- ACV Nomination Form
- ACV Nomination Flowchart
- ACV Selling an Asset Flowchart
- ACV Exemptions from the Moratorium Requirements
- ACV Compensation Flowchart
To find out more please use the links below: