Issue - meetings

GM Housing Investment Loans Fund / GM City Deal Receipts - Investment Approval Recommendations

 

 

Meeting: 27/01/2023 - Greater Manchester Combined Authority (Item 18.)

18. GM Housing Investment Loans Fund / GM City Deal Receipts - Investment Approval Recommendations pdf icon PDF 756 KB

Report of Steve Rumbelow, Portfolio Lead Chief Executive for Housing, Homelessness & Infrastructure

Additional documents:

Decision:

 

1.      That the GMHILF loans detailed in the table below, as detailed further in this and the accompanying Part B report be approved.

BORROWER

SCHEME

DISTRICT

LOAN

Renaker

Bankside, Greengate

Salford

£54.143m

Renaker

Tower D2, Trinity Island

Manchester

£65.646m

 

2.      That it be approved for up to £20m of the GMHILF lending for the Bankside and Tower D2 schemes being substituted with City Deal Receipts, noting that this is subject to Homes England approval, and to delegate authority to the GMCA Treasurer to agree the exact composition of the lending between GMHILF and City Deal Receipts following further discussions with Homes England.

 

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