Following a pattern established during the first round, about 30% of Community Ownership Fund Round 2 awards announced at the end of last year were societies using community shares in their financial models, and also as their match funding.
The Community Ownership Fund is providing £150 million over four years to support UK community groups take ownership of assets and amenities at risk of being lost. Voluntary and community groups can bid for match funding to acquire important assets and run them for the benefit of the local community.
At least nine of the 31 grants – totalling £2,407,615 – awarded in Round 2 used community shares for their match funding.
Two Bristol groups, both supported by CAN to develop and launch their community share offers, applied in Round 2.
Zion Bristol Limited, a popular community venue in south Bristol, was awarded £250k, enabling them to purchase the freehold of their building outright.
Meanwhile Stokes Croft Land Trust was unfortunately unsuccessful, but is now hoping to take on loan finance to complete the freehold purchase of a building on Jamaica Street – known as the ‘People’s Republic of Stokes Croft HQ’ [see previously].
You can find all the successful bidders in both Round 1 and 2 here.
Read more on the CAN website
Develop and launch your own share offer
Are Community Shares right for you?
What are Community Shares?