News
Community Right to Bid powers come into action
The Community Right to Bid is now a legal power for communities to use after gaining approval last week. It means that:
• Communities can apply to get a range of local assets registered as ‘assets of community value’
• If a registered asset of community value goes up for sale, legally communities will have 6 weeks to express an interest in taking on the asset and fulfilling some of the criteria
• If approved they will have a total of 6 months during which the asset cannot be sold to anyone, while communities develop plans and raise finance
• At the end of the six month ‘protected period’ the asset owner can then sell to whomever they like - this does not mean that communities can force a sale
• Although it will not make the process easier for all communities in all instances, it should certainly significantly help some communities.
The official press release from the Department for Communities and Local Government can be read at: http://www.communities.gov.uk/news/newsroom/2220565. For more information about what these powers could mean for your community visit http://www.mycommunityrights.org, or you can contact the Plunkett Foundation by emailing info@plunkett.co.uk or by calling 01993 810730.
