Abronhill Community Ventures (ACV) was formed by local men Graham Allen, Craig Brown, Jordan Watt, and Paul Shearer.
They decided to use a CIC model because it is a requirement to re-invest any surplus money or profits in the organisation.
Since February the team has undertaken 200+ hours of work campaigning against the closure and demolition of the Woodcutter.
Last month planning permission was granted by North Lanarkshire Council to erect three blocks containing 36 flats on the site.
These flats will be used as social housing and rented out by Clyde Valley Housing Association (CVHA).
However, CVHA has agreed to delay any action on the site until the end of July to ‘establish any feasibility of alternative uses’ for the pub.
ACV is currently collecting responses through the Abronhill Community Survey in order to understand the collective views about the requirement for a local social venue.
It has also launched its Street Champion Initiative to help the committee push the project forward and is currently looking for volunteers.
Communication has also been opened with the People United for Banton group which successfully rescued The Swan Inn, from closure.
A spokesperson for ACV said: “Ensuring the Woodcutter Pub has a future is the primary goal for ACV. However, it is not the only potential option.
“It is simply not enough to just bring the pub in to the hands of the community, the venue requires expensive transformation to a viable asset which has wider appeal.
“The fact that it was not being fully utilised before, was the reason the previous owners decided to sell. ACV will therefore explore other options as part of this process.”
For more information visit www.facebook.com/abronhillcommunityventures.