The potential benefits of Community Asset Transfer
The council owns a diverse range of land and buildings used for various purposes, including private, social, community, and public services. For some of these assets, transferring ownership and management to the community can bring significant benefits.
Benefits for the local community
Responsive management
Community ownership fosters closer identification with local needs, leading to more responsive management of facilities.
Expanded usage and activities
Increased use of facilities and a wider range of activities can promote health and wellbeing within the community.
Empowering local engagement
Community asset transfer can act as a catalyst for local volunteering and active involvement in shaping and revitalising neighbourhoods, enhancing community cohesion.
Benefits for the council and public sector
Alignment with council objectives
Activities supported or safeguarded through asset transfer can directly contribute to the council's objectives and the Corporate Plan.
Estate rationalisation
Asset transfer can contribute to the council's goal of streamlining its property portfolio and promoting more efficient asset utilisation.
Civic engagement and volunteering
Community asset transfer can foster increased levels of volunteering, civic participation, and engagement in positive activities within the borough.
Financial savings
Asset transfer can lead to financial savings for the council, including reduced staff and asset overhead costs, as well as business rates.
Encouraging external investments
Community asset transfer can attract external investments into areas of need that the council may not be able to secure on its own, such as grant funding, social investment, local philanthropy, and the engagement of local employers through corporate social responsibility initiatives.
Benefits for the community and social enterprise sector
Enhanced capacity and recognition
Community asset transfer can bring financial security, recognition, and enhanced management capacity for community and social enterprises.
New ventures and partnerships
Asset transfer can foster the creation of new community businesses, social enterprises, and partnerships.
Community enterprise development
It can build capacity within the community to take on the delivery of public services and develop as a community enterprise.
Stimulating social markets
Asset transfer can stimulate new social markets among community and social enterprises.
Diversifying public service providers
It can diversify the supply base for public services, providing more options for service delivery.
Improved access to funding
Community and social enterprises may gain improved access to funding and contract opportunities at local, regional, and national levels.
Demonstrating benefits
Any proposal to transfer an asset to the community will need to clearly demonstrate a range of the above outcomes and benefits.