Issue - meetings

GM Investment Framework, Conditional Project Approval

Meeting: 27/05/2022 - Greater Manchester Combined Authority (Item 15.)

15. Greater Manchester Investment Framework, Conditional Project Approval pdf icon PDF 630 KB

Report of Cllr David Molyneux, Portfolio Lead for Investment and Resources.

Additional documents:



1.            That the loan facility of up to £11.1m to Citylabs 4.0 Limited be approved.


2.            That the loan to Vector Homes Limited of £150,000 be approved.


3.            That the follow-on loan to Apadmi Group Ltd of up to £2.7m be approved.


4.            That the investment into Northern Gritstone Ltd of £1.5m be noted.


5.            That the follow-on investment into Bank North Ltd of £500,000 approved under delegation be noted.


6.      That authority be delegated to the GMCA Treasurer and Monitoring Officer to review the due diligence information in respect of the above loans, and, subject to their satisfactory review and agreement of the due diligence information and the overall detailed commercial terms of the loans, to sign off any outstanding conditions, issue final approvals and complete any necessary related documentation in respect of the loans noted above.