Issue - meetings

GM Housing Investment Loans Fund - Investment Approval Recommendations

Meeting: 29/05/2020 - Greater Manchester Combined Authority (Item 19.)

19. GM Housing Investment Loans Fund - Investment Approval Recommendations pdf icon PDF 446 KB

Report of Salford City Mayor Paul Dennett, Portfolio Lead for Housing, Homelessness and Infrastructure.

Decision:

 

1.                  That the GM Housing Investment Loans Fund loans detailed in the table below be approved:

 

BORROWER

SCHEME

DISTRICT

LOAN

Maya Property Developments Ltd

Riley’s Snooker Centre, Altrincham

Trafford

£1.990m

The Sheridan Group

Diamond Hall, Woodhouses

Oldham

£1.967m

           

2.                  That the GM Housing Investment Loans Fund equity investments detailed in the table below be approved;

 

PARTNERSHIP 

FUND

DISTRICT

EQUITY INVESTMENT

Resonance Limited

Resonance Impact Investment Property Fund

GM wide

£5.000m

Resonance Limited

Resonance Learning Disabilities Fund

GM wide

£5.000m

 

3.                  That it be agreed to delegate authority to the GMCA Treasurer acting in consultation with the GMCA Monitoring Officer to prepare and effect the necessary legal agreements.

 

4.                  That the following loans which were approved in April 2020 under emergency powers be noted.

 

BORROWER

SCHEME

DISTRICT

LOAN

Heath Farm Lane LLP

Heath Farm Lane, Partington

Trafford

£5.000m

Specialist Care Developments Ltd

Stephenson Street

Oldham

£0.981m