GM Investment Framework and Conditional Project Approvals
- That the funding application for
Castlefield House Properties Limited
(loan of £5,000,000) be approved, and progressed to due
diligence.
- That the funding application for GM
Social Enterprise Emergency Relief Fund (loan of £1,500,000)
be approved and progressed to due diligence.
- That authority be delegated to the
GMCA Treasurer and GMCA Monitoring Officer to review the due
diligence information in respect of the funding, and, subject to
their satisfactory review and agreement of the due diligence
information and the overall detailed commercial terms of the
transactions, to sign off any outstanding conditions, issue final
approvals and complete any necessary related documentation in
respect of the loans at 1 and 2 above.
- That authority be delegated to the
GMCA Chief Executive Officer, GMCA & TfGM and GMCA Authority
Treasurer, in consultation with the Portfolio Lead for Investment
and Resources, to approve projects for funding and agree urgent
variations to the terms of funding in the period 1 August 2020 to
24 September 2020. Any recommendations
that are approved under the delegation will be reported to the next
available meeting of the GMCA.