Purpose

The report sets out the results
of the consultation on the establishment of a Mayoral Development
Corporation (MDC) covering the Old Trafford Regeneration area and
seeks approval for the next steps in the process.

Decision

(1)      
That the results of the consultation exercise in
respect of the designation of a Mayoral Development Corporation for
the Old Trafford Regeneration area, be noted.

 
(2)      
That designation of the Old Trafford Regeneration
Mayoral development area by the Greater Manchester Mayor, notifying
the Secretary of State of that designation, be
supported.
 

Reasons for the decision

Establishing an MDC has the potential to accelerate the
significant economic benefits that can be delivered through the Old
Trafford Regeneration project. The recommendations set out in the
report to seek to designate the Corporation is an important next
step and complies with the statutory requirements to be followed to
set up an MDC.

Alternative options considered

The other options considered as
an alternative to establishing an MDC were considered by the
Executive in January 2025; in addition, a choice could be made not
to endorse designation of the MDC.