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<p>It is for local authorities to determine if any building or land nominated by the
local community meets the test of being an asset of community value. The scheme allows
groups to nominate buildings or land for listing by their local authority if its principal
use furthers their community’s social well-being. This can include cultural, sporting
or recreational interests. Since the scheme was introduced in 2012, over 4,000 assets
of community value have been listed across England. This includes over 30 football
stadiums from across the football pyramid including St James Park.</p><p>The scheme
seeks to balance the rights of private property owners with the interests of the community
where the local authority agrees that the asset in question is an asset of community
value.</p>
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