January 18, 2016
One week left for the “We Recommend Refusal” Society to raise the money.
Assets of Community Value.
Localism Act Part 5 Chapter 3 – Community Right to Bid.
Owner notice of intent to sell.
When successfully nominated assets come up for sale, the Act then gives community interest groups the time to submit a request to the local authority to be considered as a bidder, and time to develop a business case and secure funding to support the bid to put the asset on the open market.
Interim moratorium period :-
This is a six week period from the date the Council accepted receipt of the owner’s notice of intent to dispose of the asset on the open market. During this period eligible community interest groups can express an interest in being considered as a potential bidder by sending in a written request to the Council.
Full moratorium period :-
This is a six month period from the date the Council accepted receipt of the owner’s notice of intent to dispose of the asset on the open market. It will only apply if an eligible community interest group sends in a written request to express be considered as a potential bidder.
After the moratorium period :-
Either the six weeks if there has been no community interest, or the full 6 months – the owner will be free to dispose of the property to whomever they choose and at whatever price, and no further moratorium will apply for an 18 month protected period.
The owner does not have to sell the asset to a community group.
Reference Number :- 15-07.
Asset Of Community Value :- The Memorial Stadium, Filton Avenue, Horfield, Bristol. BS7 0BF.
Nomination form received from The Bishopston Society on 17/09/2015.
The Owners of The Memorial Stadium have submitted notice of intent to sell.
Acceptance date 14/12/2015.
End of interim moratorium period 25/01/2016.
End of full six month moratorium period 14/06/2016.
End of 18 month protected period 14/06/2017.
To read more from the Bishopston “We Recommend Refusal” Society :- CLICK HERE