A Community Group may be interested in taking over the management and running of an asset owned by the Council, but be unable to afford to pay full market value to buy it. Any transfer under this policy is described as being ‘at less than market value’.
The effective transfer of assets to the local community can bring benefits not only to the Council, but also to its local statutory, voluntary and community partners. Such transfers can contribute to the Council’s own efficiency savings by the release of ‘surplus’ or underused properties, provide an opportunity to run services differently such as through a community enterprise, or provide the potential to strengthen the role and future sustainability of local community organisations.
The Community Asset Transfer (CAT) policy below sets out the criteria under which the transfer of an asset to a Community Group could take place and also how subsequent use and management is reviewed. It also seeks to clarify the roles and responsibilities of the various parties involved. Each asset will require consideration on a case by case basis not only in order to reflect the asset but also the group and capacity of the group seeking transfer. The document sets out the broad principles under which any transfer may be considered and, if agreed, progressed.
NHDC consider applications from the community to acquire any asset owned by the authority, not just those listed as assets of community value.
The Policy acts as a guide to any group wishing to take on an asset and includes a number of elements of good practice and learning from previous transfers. A list of documents and a flowchart is appended below to help illustrate the broad processes followed.
For more information contact:
Ian Couper, Head of Finance, Performance & Asset Management:
Tel: 01462 474243