The Cabinet considered an opportunity for creating a Mayoral Development Corporation (MDC) to lead the regeneration of Stockport’s Town Centre West and agreed that
· the overall purpose for an MDC in Stockport’s Town Centre West be approved;
· approval be given to underwriting the running costs of any MDC and to the guiding principles according to which an MDC would be created;
· the GM Mayor’s intention to consult on the MDC proposal, and the intention to submit a further report to Cabinet before any final decision by the Mayor could be implemented, be noted.