Issue details

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.