Council of Ethnic Minority Voluntary Sector Organisations

Cabinet Office- Office of the Third Sector

Community Assets Fund

Ed Miliband, Minister for the Third Sector, announced in March 2007 that the Big Lottery Fund (BIG) will manage a new £30m programme to enable community-led third sector organisations to own and run underused public buildings.

The new Community Assets Fund (CAF) – set up by the Office of the Third Sector (OTS) in the Cabinet Office – will offer grants for the refurbishment of local authority buildings, ensuring they are appropriate for community use and for transfer to third sector ownership or management. The CAF will provide valuable new facilities for communities and respond to the third sector's desire to make best use of local assets.

The consultation seeks views on the size and nature of grants, supporting new and existing partnerships and the nature of asset transfer.

Following the outcomes of the consultation process, ministers together with BIG will decide on the final criteria for the fund which will then be launch later this year.

Related Links

• Cabinet Office homepage (opens in a new window)
• Cabinet Office Community Asset Fund Press release: Big Lottery Fund to manage £30m Community Assets Fund (opens in a new window)
• CEMVO's response for the Office of the Third Sector to this consultation (PDF document)
• Community Assets Fund consultation: Government response (PDF document)