Decision details

Greater Manchester Loans Fund (GMLF) (General Exception)

Decision Maker: Executive

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: No

Purpose:

Approval is sought for the Council to enter into an indemnity agreement to support the Greater Manchester Loans Fund (GMLF).

Decision:

The Executive Meeting considered a proposal to enter into an indemnity agreement to support the establishment of a Greater Manchester Loan Fund and has agreed that, in order to enable the establishment of the proposed Fund and to give effect to the decision of the Greater Manchester Combined Authority of 21 January 2013:

 

·         approval be given to enter into a Deed of Indemnity on the terms set out in the report, and

·         the Council Solicitor be authorised to complete the necessary documentation.

 

(Note: the report included exempt information ‘not for publication’ contained in a confidential appendix that had been circulated to executive councillors only)

 

Alternative options considered:

None

Interests and Nature of Interests Declared:

None

Wards Affected: (All Wards);

Equality and/or Environmental Impact Assessment: N/A

Decision Reference: ED1519

Forward Plan Reference: The agreement of all ten local authorities in Greater Manchester is needed to give effect to the Greater Manchester Loan Fund. Manchester City Council, on behalf of the Combined Authority, has requested that the Council consider the indemnity agreement as soon as possible. The following meeting of the Executive on 16 July 2013 would be too late to consider the matter.

Contact: Barry Khan, Corporate and Support Services Email: barry.khan@stockport.gov.uk Tel: 0161-474-3202, Andy Moran, Corporate and Support Services Email: andrew.moran@stockport.gov.uk Tel: 0161 474 4086.

Urgent item?: Yes

Report author: Barry Khan, Andy Moran

Publication date: 12/06/2013

Date of decision: 11/06/2013

Decided at meeting: 11/06/2013 - Executive

Accompanying Documents: