Asset of Community Value
Assets of Community Value (ACV) form a part of the Community Right to Bid. It acts as the first stage in identifying and nominating buildings or other assets such as land that have a main use or purpose of furthering the social well-being or social interests of the local community, and could do so into the future.
Examples of such assets include pubs, libraries, village halls and community spaces.
Who can nominate an Asset of Community Value?
A number of community organisations are eligible to nominate land and buildings for inclusion on the list, providing they have a local connection (this means that their activities are wholly or partly concerned with the area, or with a neighbouring authority’s area). Those eligible include:
- Parish councils
- Neighbourhood forums (as defined in Neighbourhood Planning regulations)
- Unconstituted community groups of at least 21 members
- Not-for-private-profit organisations (e.g. charities)
What is the Asset of Community Value process?
Once a nomination has been received from an eligible community organisation, the local authority will determine whether the nominated asset meets the definition of an ACV.
If successful, the asset will be placed on the ACV Register for a period of five years from the date of approval. During this time, the asset owner must inform the local authority should they wish to dispose of the asset, and the community will be given the opportunity to trigger a moratorium period allowing the community a period of six months to raise the necessary finances to purchase the asset. Throughout this period, the owner is unable to complete a sale on the property.
How to nominate an asset
In order to nominate an asset for inclusion on the asset register, the community organisation must complete a nomination form telling us the asset address, details of the owner, the extent of the site and why they feel it is an asset of community value. They must also provide evidence that they are eligible to make a nomination.
The ACV nomination form and guidance notes for nominees can be downloaded by clicking on the links below:
The Asset of Community Value Register
Richmondshire District Council maintains a register of successful nominations and unsuccessful nominations. To view these click on the links below:
- Register of successful assets (last updated 9th July 2019)
- Register of unsuccessful nominations (last updated 9th July 2019)
For more information on the community right to bid process visit the My Community website.
You can also contact the Community Right to Bid Lead Officer, Mark Robson via 01748 829100 or email firstname.lastname@example.org