Decision details

Long Term Investment into Housing Delivery

Decision Maker: Greater Manchester Combined Authority

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes

Decision:

1.      That approval be given for a £5m loan into a newly created Greater Manchester Key Worker Fund, to be managed by Places for People’s investment arm – Thriving Investments Limited.

 

2.      That the use of £2m to refinance the Greater Manchester Housing Investment Fund investment from Hive Homes (Greater Manchester) LLP be approved.

 

3.      That the proposed £0.5m equity investment to Step Places for the third phase of the Bolton Moor Lane development be approved.

 

4.      That authority be delegated to the GMCA Treasurer, in consultation  with the GMCA Solicitor & Monitoring Officer, to prepare and effect the necessary legal agreements.

 

Publication date: 25/03/2024

Date of decision: 22/03/2024

Decided at meeting: 22/03/2024 - Greater Manchester Combined Authority

Effective from: 04/04/2024

Accompanying Documents: