Approval of the consolidation of two existing
loans into a single facility with Broughton House, totalling
£4.1m, which needs to be made during the pre-election period,
and cannot wait until the next GMCA meeting. The loans have been
consolidated in order to improve the affordability of the loan and
to better reflect the reduced lending risk.
The Combined Authority gave approval on 22nd March 2024 to give
delegated authority for the period 23rd March 2024 to 30th May 2024
to the Combined Authority Chief Executive and the Combined
Authority Treasurer, in consultation with the Portfolio Lead Leader
for Investment and Resources, to approve funding requests for
projects in the absence of a Combined Authority meeting at the end
of April 2024, and approve any urgent variations on amounts and
terms for already approved loans.
Decision type: Key
Reason Key: Expenditure > £500,000;
Decision status: Recommendations Approved
Notice of proposed decision first published: 13/05/2024
Decision due: 10 May 2024 by Group Chief Executive, Group Chief Finance Officer
Contact: Nicola Ward Email: nicola.ward@greatermanchester-ca.gov.uk.