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Community asset transfer
Community asset transfer (CAT) is a procedure under United Kingdom law that allows a local community to take on the ownership or management of publicly owned buildings or land, at less than market rates, for the purposes of promoting social, economic and environmental well-being.[1][2] Agreement by the public body is at their own discretion.[1] A pilot project, Advancing Assets for Communities, took place in Birmingham in 2008.[3] A national organisation called the Asset Transfer Unit was established to oversee the initiative, and to support both parties in CAT arrangements.[4] There were around 1,500 such transfers in England in the period 2011-2012.[5][1] Premises subject to the procedure, said to be in community asset ownership, now number in the thousands.[2] The procedure is distinct from the assets of community value initiative, although the two are often conflated.[1] It is also distinct from the related community right to bid, which allows community groups to have a "first refusal" if premises of community interest, such as community halls or pubs, are put up for sale by public or private owners.[1] References
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