Decision details

GM Housing Investment Loans Fund - Investment Approval Recommendations

Decision Maker: Greater Manchester Combined Authority

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Decision:

1.            That the GM Housing Investment Loans Fund loans detailed in the table below, as detailed further in this and the accompanying Part B report be approved:

 

BORROWER

SCHEME

DISTRICT

LOAN

FSG (Kara) Projects Ltd

Kara Street, Seedley

Salford

£5.126m

Newpark Gables Ltd

7 Old Hall Road

Salford

£1.455m

 

2.          That the GM Housing Investment Loans Fund equity investment detailed in the table below, as detailed further in this and the accompanying Part B report be approved:

 

DEVELOPER

SCHEME

DISTRICT

EQUITY

Cityheart Ltd and Rise Homes Ltd

Stockport Interchange

Stockport

£9.300m

 

3.            That authority be delegated to the GMCA Treasurer acting in conjunction with the GMCA Monitoring Officer to prepare and effect the necessary legal agreements.

 

Publication date: 29/06/2021

Date of decision: 25/06/2021

Decided at meeting: 25/06/2021 - Greater Manchester Combined Authority

Effective from: 06/07/2021

Accompanying Documents: