The community ownership fund was launched in 2021, aimed at distributing £150 million in grants to help local groups gain control of essential community assets.
Despite the successes like purchasing the Old Forge pub, the community ownership fund is being shut early due to public finance constraints, leaving millions unspent.
Advocates had hoped the scheme could expand to allow more communities to take ownership of cherished local gems, influenced by successful examples from the fund.
Ministers are expected to provide new details on community ownership of assets following the recent English devolution white paper, indicating ongoing support for such initiatives.
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