Community groups can nominate land, buildings or structures to the Council as potential assets of community value.
Land, buildings or structures are assets of community value if the main use has recently been to further the social wellbeing or social interests of the local community and the use could continue in the future.
If land or buildings on the list come up for sale in the future then the local community has the option of six months to prepare a bid to buy the asset. It should be noted, however, that the legislation does not restrict who the land can be sold to or at what price.
The relevant legislation is Part 5 Chapter 3 of the Localism Act 2011 (Sections 87 to 108) and The Assets of Community Value (England) Regulations 2012. This legislation came into force on 21 September 2012.
A report to the November 2012 Policy Review and Development Panel set out how the process could operate in Colchester. The Panel made recommendations to Cabinet on the arrangements to be adopted. The report was then considered at Cabinet on 23 January 2013. Arrangements are now in place, with further information on how to make nominations and how the process will operate available on this web page - see below.