Assets of Community Value
Thousands of community assets – Which include green spaces are successfully owned or managed by community organisations across England.
Our local communities can take action too by nominating, transferring or taking over local assets.
Community Assets can include buildings too, such as pubs, shops, historical buildings, town halls, swimming pools, pubs, parks, churches, and historical landmarks, can all be nominated as as Assets of Community Value
Primarily for Friends of The Green, important Green Spaces in Sutton Coldfield & Mere Green can be nominated too, as Assets of Community Value.
Assets of Community Value (ACVs) can only be nominated if they are of interest socially (such as for sport, culture or recreational uses) or increase the wellbeing of the community now and into the future.
A community group (such as a society, parish council, neighbourhood forum, not for profit organisation or a group of at least 21 individuals) that is locally connected to the area can nominate an asset to the local authority.
Community Assets can also help to Transfer land or buildings from local authority to the community with Community Asset Transfer.
They can also allow communities to take over management or ownership of land and buildings with the Community Right to Bid
Manage or own local assets
Assets that are owned by a statutory body (such as a local authority) can be transferred to be managed or owned by a community based organisation potentially at less than market value, if it has social, economic or environmental benefits for the community. This is called a Community Asset Transfer
Community Right to Bid
When an Asset of Community Value goes up for sale, interested local organisations can use the Community Right to Bid to invoke a moratorium (a ‘pause’ in the sale process) for up to six months, giving the community the opportunity to raise the funds to bid for the asset on the open market.
You can view further information regarding all aspects of Assets of Community Value (ACV) at the Birmingham City Council website. How to nominate an Asset of Community Value
ACV’s should not be viewed as fix all solution for communities wishing to protect land or development upon it.
In the pursuit of openness, it should also be mentioned that a number of articles have been written by various authors regarding the effectiveness of A.C,V’s.
One such article can be found HERE