Issue - meetings

Report of Councillor David Molyneux, Portfolio Lead for Investment and Resources and Steve Wilson, Portfolio Lead Chief Executive for Investment.

1.  That the loan facility of up to £1m into the Enterprise Growth for Communities Fund be approved.

2.  That the investment into The Modular Analytics Company Limited of £400,000, approved under delegation, be noted.

3.  That the amendment to the investment quantum into Miribase Limited (“Shopblocks”) of £350,000, approved under delegation, be noted.

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

5.  That the GMCA will receive an annual report on the GM Investment Framework, detailing work undertaken over the previous 12 months.