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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.