ASSET TRANSFER COMMUNITY ASSET TRANSFER COMMERCIAL ASSET ‘‘The transfer of land or buildings from a statutory body into the ownership or management of a TRANSFER Voluntary and/or Community Sector (VCSE) organisation or social enterprise for less than market value to stimulate, and invest in, the social, economic and environmental well-being of the local community and local people.’ KEY ELEMENTS OF TRANSFER Lambeth Birmingham Portsmouth Recommendations for PROCESS and TERMS Tower Hamlets Objective/Aim ‘The Council seeks to ‘The Council has a ‘Plymouth City Council ‘The disposal of assets Varies but most often enable an increase in history of transferring believes community for less than market to maximise capital the community land and building to the asset transfer is value (CAT) is not a receipts and/or ownership and voluntary and fundamentally about grant but an stimulate economic management of assets community sector. giving local people and investment, made by growth through within neighbourhoods However currently each community groups the council after due redevelopment. throughout the London Directorate greater control in the process and Borough of Lambeth - to independently future of their area consideration, which stimulate the creation approaches the transfer and their community represents evidenced of new social markets, of property to bona fide in line with promoting good value for the underpin robust Third Sector the Council’s co- public purse through community enterprises organisations. Each has operative agenda. If achieving positive, capable of delivering developed its own local groups own or social, economic, and high quality local methods of working and manage community environmental services, and provide sets its own buildings and land, outcomes, and in residents with new requirements for the such as community pursuit of the overall learning and transfer of assets. One centres, rugby pitches, wellbeing of the employment of the purposes of the allotments or changing community. opportunities.’ [CAT Policy] work that rooms for example, it • Local organisations has been undertaken will help foster a sense are often best placed to has been to develop a of belonging and bring manage facilities in corporate way of together people from their local communities. working which aims to different backgrounds. Their local knowledge, ensure fairness, Community ownership extensive use of consistency and of buildings can also volunteers and hands transparency across all play a part in raising on management of the
ASSET TRANSFER COMMUNITY ASSET TRANSFER ‘‘The transfer of land or buildings from a statutory body into the ownership or management of a Voluntary and/or Community Sector (VCSE) organisation or social enterprise for less than market value to stimulate, and invest in, the social, economic and environmental well-being of the local community and local people.’ COMMERCIAL ASSET TRANSFER KEY ELEMENTS OF TRANSFER PROCESS and TERMS Lambeth Birmingham Portsmouth Recommendations for Tower Hamlets Objective/Aim ‘The Council seeks to enable an increase in the community ownership and management of assets within neighbourhoods throughout the London Borough of Lambeth - to stimulate the creation of new social markets, underpin robust community enterprises capable of delivering high quality local services, and provide residents with new learning and employment opportunities.’ ‘The Council has a history of transferring land and building to the voluntary and community sector. However currently each Directorate independently approaches the transfer of property to bona fide Third Sector organisations. Each has developed its own methods of working and sets its own requirements for the transfer of assets. One of the purposes of the [CAT Policy] work that has been undertaken has been to develop a corporate way of working which aims to ensure fairness, consistency and transparency across all ‘Plymouth City Council believes community asset transfer is fundamentally about giving local people and community groups greater control in the future of their area and their community in line with promoting the Council’s agenda. If local groups own or manage community buildings and land, such as community centres, rugby pitches, allotments or changing rooms for example, it will help foster a sense of belonging and bring together people from different backgrounds. Community ownership of buildings can also play a part in raising ‘The disposal of assets for less than market value (CAT) is not a grant but an investment, made by the council after due process and consideration, which represents evidenced good value for the public purse through achieving positive, social, economic, and environmental outcomes, and in pursuit of the overall wellbeing of the community. • Local organisations are often best placed to manage facilities in their local communities. Their local knowledge, extensive use of volunteers and hands on management of the Varies but most often to maximise capital receipts and/or stimulate economic growth through redevelopment. co- operative
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