(1) A local authority must provide or arrange for the provision of services, facilities or resources, or take other steps, which it considers will-- (a) contribute towards preventing or delaying the development by adults in its area of needs for care and support; (b) contribute towards preventing or delaying the development by carers in its area of needs for support; (c) reduce the needs for care and support of adults in its area; (d) reduce the needs for support of carers in its area. (2) In performing that duty, a local authority must have regard to-- (a) the importance of identifying services, facilities and resources already available in the authority's area and the extent to which the authority could involve or make use of them in performing that duty [Whilst the above does not make use of the term "community assets", para 2(2)(a) describes the services, facilities and resources that the term is generally used to mean.]

Things you have that may be valuable in money terms (such as a house), or useful in other ways (such as particular skills, knowledge or relationships).