Decision Maker:

Outcome:

Is Key Decision?: No

Is Callable In?: Yes

Date of Decision: December 8, 2025

Purpose:

Content: Salford City Council - Record of Decision   I Councillor Jack Youd, Deputy City Mayor and Lead Member for Finance, Support Services and Regeneration, in exercise of the powers contained within the City Council Constitution and in consultation with members of the Cabinet at the Property/Regeneration Briefing on 8th December, 2025, do hereby:   Approve the provision of loan funding to Dérive RP to fund the acquisition of the subject scheme, facilitated via a Loan Agreement and protected through a registered charge against the asset.   2.         Approve the utilisation of Development Trust Account funding and additional affordable housing funding.   3.         Approve the variation of the Grant Funding agreement with the Greater Manchester Combined Authority (GMCA) to reflect the increased grant level as detailed in the report   4.         Approve the City Council entering into a Grant Funding Agreement Affordable Homes Programme (AHP) with Homes England on the basis detailed in the report.   Delegate authority to the Executive Director of Place in consultation with the S151 officer to: negotiate, agree, and finalise the detailed terms of the transaction including any required variations to currently proposed funding mix.   Authorise the Shared Legal Service or externally appointed solicitors to prepare all necessary documentation and to take all steps which are required to give effect to the above recommendations.   The Reasons are:   In July 2024 approval was given to the delivery of a 90 home, Passivhaus certified, 100% affordable housing scheme at the Regent Industrial Estate.   The project has progressed significantly since, full planning permission was secured in October 2024, demolition and site clearance was completed in November 2024 and initial enabling works were implemented over the course of  Q1/Q2 2025.   Following the of finalisation of scheme specification and confirmation of tendered build costs, the approvals above will now facilitate the funding package to enable scheme delivery.   Options considered and rejected were: Not to pursue the facilitation and continuation of the scheme   Assessment of Risk: The risk to successful scheme delivery is High if the proposed funding mix is not approved.   The source of funding is:   Capital Programme 2025/26   Legal Advice obtained: Lauren Armstrong Shared Legal Service)   Financial Advice obtained: Raf Khan, Senior Accountant Alison Woods, Commercial Finance Manager Procurement Advice obtained: n/a   HR Advice obtained: n/a   Climate Change Advice obtained: Mike Hemmingway, Principal Officer Climate Change     The following documents have been used to assist the decision process:   -       Public briefing report to Property/Regeneration Briefing on 8th December 2025 Contact Officer: Andrew Cartwright Head of Service - Strategic Delivery                                     Email: andrew.cartwright@salford.gov.uk   -       This decision is not subject to consideration by another Lead Member. -       The appropriate scrutiny to call-in the decision is the Growth and Prosperity Scrutiny Panel                Signed: Councillor Jack Youd Deputy City Mayor and Lead Member for Finance, Support Services and Regeneration Dated: 8th December 2025                                                           This decision was published on Tuesday, 9th December 2025                                             This decision will come in force at 4.00 p.m. on Tuesday, 16th December 2025 unless it is called-in in accordance with the Decision Making Process Rules.