19. GM Housing Investment Loans Fund - Investment Approval Recommendations 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 |