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Approval to enter into a new
residential led Joint Venture with an initial commitment of up to
£2.5 million to carry out detailed design and planning work
to one site.  Further approvals for
delivery costs for this site and pre delivery costs for other sites
to obtained at later dates. 
Approval is also sought for Paddy Dowdall and Kevin
Etchells to be the appointed directors on behalf of
GMPF.

Reasons for the decision

This commitment would
be made from the GMPVF allocation which was ratified by Policy and
Development Working Group in June 2024. It is a strategic priority
to invest in housing across the GMPVF target region. This
recommended commitment is well aligned with these
objectives.

Officers have been reviewing a potential opportunity
to develop a portfolio of local residential assets.

Entering into a Joint Venture will provide a
framework to work alongside the new partner as well as securing
exclusivity over a pipeline of sites.

Initial priority is to be given to one site which is
close to submitting a planning application. It is proposed that
GMPF funds up to £2.5m of costs in relation to detailed
design and pre-delivery work to get to the point of appointing a
contractor. Further approvals for delivery costs for this site and
pre delivery costs for other sites to obtained at later
dates.
Approval is also sought for Paddy Dowdall and Kevin Etchells to
be the appointed directors on behalf of GMPF.