The 300 residents of Scalpay, off Harris, voted last year to take up an offer by London restaurateur Fred Taylor, who inherited the island two years ago, to gift it to them for free.
They also voted to go into partnership with the North Harris Trust (NHT), the community-led body which owns 6200 acres of the larger island to which Scalpay has been connected by a £6.4 million bridge since 1997.
Now a £60,330 grant from the £9m Scottish Land Fund, financed by the Scottish Government, has been awarded to the NHT, meaning the islanders of Scalpay can take their plans forward for the Scalpay Estate.
The grant will support conveyancing costs as well as a two-year development officer post, which will shortly be advertised.
Sheila Rodderick, Scalpay resident and North Harris Trust director, said: "Many opportunities and challenges lie ahead for us all but the knowledge that, as part of NHT, the aspirations and hopes of the Scalpay community can be realised, is a great motivation."
Meanwhile, an SLF grant of £357,874 to Huntly Development Trust was also announced, meaning the purchase of Greenmyers Farm, a small holding near Huntly, can proceed.
Community ownership is seen as a chance to create new development opportunities, which could include a renewable energy project.