Purpose

Discharge in part the charge for Park Street
in relation to 86 Park Street upon receipt of the net sale proceeds
to allow for the sale of the property to proceed

Decision

For the reasons set out in this report, the
Corporate Director has decided to:
 
1)   
Discharge in part the Charge for Park Street in relation to 86 Park
Street (the Part Property) upon receipt from LFH to the Council the
net sales proceeds from the sale of the Part Property, as detailed
at Appendix 2.

Alternative options considered

Do nothing. Without the Council’s
consent to release the fixed charge in part the sale of the house
will not be able to proceed and LFH will not be able to reduce the
outstanding loan amount. Therefore, this option has been
discounted.