Decision details

1.      That the GMHILF loans, detailed in the table below, be approved, as detailed further in this and the accompanying Part B report. The recommendation is to approve as a cap on lending, with the Combined Authority committing to provide £120m across the two schemes and having the option to provide a further £20m if there was surplus funding available.

2.      That authority be delegated to the GMCA Treasurer to change the funding source of GMHILF loans into the Brownfield Housing Fund in advance of 31 March 2024.

3.      That authority be delegated to the Chief Executive Officer GMCA & TfGM, in consultation with the Portfolio Lead for Housing, to approve funding and urgent variations to existing funding for GMHILF, City Deal Receipts and/or the Brownfield Housing Fund funding in the period 22 March 2024 to 31 May 2024.

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.

5.      That it be noted that any recommendations approved under the delegation will be reported to the next available meeting of the GMCA.