The Localism Act 2011 provides for a scheme called ‘assets of community value’. The scheme is in two parts: the Nomination and Listing of an asset and the Community Right to Bid.
The local planning authority is required to maintain a list of assets of community value. These assets can be nominated by community groups and Parish Councils to Copeland Borough Council and if the nomination is accepted by the Council it will be placed on the list. The group will be given time to bid for the asset if it is ever put up for sale in the 5 year period it is listed as an Asset of Community Value. This part of the scheme is known as Community Right to Bid.
Local communities have the right to nominate any land or property in their area which promotes the social wellbeing or social interests of the community to local authorities to include on the list of community assets. The asset can be in public ownership (local authority or Crown) or private ownership. Only local communities can nominate assets to be on the list.
The Council will hold and maintain the List of Assets of Community Value. It will also hold a List of Assets Nominated but not Listed.