Local Community Ownership Fund

About the Local Community Ownership Fund

The Local Community Ownership Fund (LCOF) is a £1.5 million initiative:

• investing in the transformation of local places
• supporting community wealth building, and
• capacity development.

The fund will support the acquisition of community assets or existing derelict sites for viable and sustainable community use. It will prevent the risk of loss of such assets in local community areas and make sure that they are used for maximum community benefit.

The fund closed for applications on Wednesday 2 September 2026. 

Fund aims

The Local Community Ownership Fund will support capital related projects that:

• support the acquisition of community assets or existing derelict sites for viable and sustainable community use
• prevent the risk of loss of such assets in local community areas and ensure that they are used for maximum community benefit
• help existing community groups to move to new, larger and/or more appropriate locations within the same area
• strengthen local community ownership of assets, and
• strengthen the social and community infrastructure that needs to be in place to allow local areas to thrive.

Available funding

A fixed amount of £1.5 million in total is available, broken down by area:

• North - £370,276
• South - £297,418
• East - £337,810
• West - £494,496. This Includes £104,091 for the Shankill Area.

We have not set a minimum level of investment for each project.

Projects eligible for funding, including types of projects

To be eligible for funding, projects must be able to demonstrate:

• alignment with the aims of the Local Community Ownership Fund
• delivery against any of the Local Community Ownership Fund outcomes
• costs of acquisition and revenue funding, used to fund the initial running costs of the project, of no more than £25,000 or 20 per cent of the total capital funding applied for (whichever is smaller).
• financial sustainability, with no ongoing revenue implications for us
• that it is located within the Belfast city council area, but not located within the city centre retail core (link opens in new window)
• the funding will not be used to purchase sites for or to develop housing
• the applicant is not an individual, sole trader or profit-making organisation
• the applicant is a formally constituted voluntary or community group, community interest company, not-for-profit company limited by guarantee or social enterprise
• that the applicant has good governance and is in good financial health, and
• no retrospective costs are required.

If the asset is being released as part of the Government D1 process, then we will act as the sponsoring body.

Types of projects that can be funded

Acquisition of assets (buildings or sites) or existing derelict spaces that will be developed for community use, such as:

• community centres
• theatres
• galleries
• museums
• music venues
• parks
• post office buildings
• shops
• empty sites, or
• sporting and leisure facilities.

This list is not exhaustive.

Assets can be at risk of being lost to the community from:

• closure or end of lease
• neglect or dereliction
• an unsustainable current business model
• being for sale
• being listed for disposal, or
• being part of a community asset transfer.

The asset must offer value to local people, and you must be able to run it sustainably long term.

The fund has been set up to support asset acquisition projects only. The funding cannot be used for capital works, for example construction projects or refurbishments.

Fund outcomes

We propose that the Local Community Ownership Fund will support projects which may deliver against any of following outcomes:

• protect a community asset that is at risk and preserve its community value
• create a new community asset which will deliver benefit to local people
• develop a sustainable operating model to secure the long-term future of a community asset in community ownership
• investment in assets that increase feelings of pride in, and improve perceptions of, the local area as a place to live, or
• investment in assets that improve local economic outcomes including creating jobs, volunteering opportunities and improving employability and skills levels in the local community.

Application process

The Local Community Ownership Fund involved an open call for applications, with three stages to the application and approval process. The application process closed on 2 September 2026.  

Stage one: expression of interest

Expressions of interest closed on Wednesday 17 June. Stage one was designed to test eligibility of proposals.

Stage two: full application

Eligible applicants at Stage one were invited to We will invite eligible applicants to submit a full application which included an application form outlining the proposal, a business case and other relevant information.

Projects will be scored using an assessment matrix (minimum threshold 55 per cent). We will bring projects to our Strategic Policy and Resources Committee for approval. Successful projects will then receive a notification letter and will move to stage three of the application process. We will notify projects that were not successful.

Stage three: acquisition of asset

If successful at full application stage, projects will be subject to several pre-conditions. We will carry out full due diligence on the project and applicant once applications are submitted and before any funds are released. The funding agreement will be issued and will contain individual terms and conditions dependent on project. The acquisition of the asset or site must complete within nine months.

Who decides which projects receive funding?

The decision on funding will be taken by elected members through our governance processes. The Strategic Policy and Resources  Committee in their role as our investment decision maker, will agree which projects receive funding. This decision will need to be ratified at the full meeting of the council.

All funding decisions must to go through the process as outlined on this webpage. This allows elected members to properly consider the merits of funding one project over another, based on the benefits each project is likely to bring to the local areas and the city.

Following an initial assessment by officers, proposals will be brought forward for the consideration of SP&R Committee in relation to the allocation of funding.

Criteria used to assess projects

Projects will be assessed and scored against four key criteria.

1. Strategic case: demonstrating the asset is at risk and level of local support (20 per cent).
2. Management case: demonstrating the project is deliverable and that the asset will be run sustainably (30 per cent).
3. Community benefit: the potential for community benefits to be delivered through community ownership (40 per cent).
4. Added value: the added value of the asset to the community, using local data and information on community need (10 per cent).

What happens after a project is agreed for funding by the Strategic Policy and Resources Committee?

We have a duty to make sure public money is spent wisely and that our investment is properly protected. We will carry out a thorough due diligence process. This process has been established through previous council capital funding initiatives including:

• the Belfast Investment Fund
• the Local Investment Fund
• the Social Outcomes Fund, and
• Neighbourhood Regeneration Fund.

We have developed a due diligence checklist to make sure that we capture all the information that we need to rigorously scrutinise proposals. We will not issue a final letter of offer until we have received all due diligence information, and we have signed it off as meeting all requirements.

Timeline for funding

Stage one expressions of interest closed on Wednesday 17 June 2026 at 12 noon. 

Stage two applications closed on Wednesday 2 September 2026 at 12 noon. 

We expect to bring updates on all applications and assessment results to the Strategic Policy and Resources Committee for decisions on next steps in late 2026.

Project delivery

A successful group will enter into a legal agreement with us. This will include requirements related to the monitoring and evaluation of the project.

Contact us

For any queries, email [email protected].