Localism Bill

147DA: After Clause 84, insert the following new Clause— ““Local authority additional powers for assets of community value (1) A local authority may acquire and make fit for community use any land that is included in the authority’s list of assets of community value. (2) An acquisition under subsection (1) may be by compulsory purchase if authorised by the Secretary of State. (3) Any land acquired under subsection (1) or any interest in it less than that acquired may be sold or let to a community interest group or to a person representative of the group. (4) A sale or letting under subsection (3) may, subject to appropriate restrictions of use and further disposal, be at less than the full market value. (5) A local authority may contribute the whole or part of any expenditure that is incurred by or on behalf of a community interest group in the acquisition, improvement or maintenance of a community asset subject to appropriate conditions.””