Greater Manchester Combined Authority (GMCA), Brownfield Housing Scheme

  • This Scheme will provide support for the costs incurred in developing Brownfield sites for housing in the Greater Manchester area and aims to support the delivery of at least 10,000 new housing units.
  • The overall budget of the Scheme is up to £500 million (deriving from the Brownfield Housing Fund, Brownfield Infrastructure and Land Funding agreement, and potential future funding allocations) and individual awards will not exceed £20 million per project.
  • Our key takeaways are that Subsidy Advice Unit (SAU) reports should:
    • clarify the interactions between the multiple sources of funding, including details on any restrictions on using these funds and the extent to which loans or equity as well as grants will be used;
    • provide evidence on the evaluation undertaken around the viability gap and steps taken to ensure only the minimum necessary funding is provided. This may for example include detail on the expected sales values of developments, project specific rates of return and how ‘market norm’ project costs will be assessed;
    • provide detail and evidence to support the conclusion that the projects would not proceed without the subsidy and how the Scheme intends to deliver any changes in behaviour identified. For instance, this could include demonstrating how returns could be earned on the project thereby making it investable; and
    • thoroughly consider how the design of the Scheme is constructed to minimise impacts on competition and investment.

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Posted in Subsidy Advice Report Tracker.