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To authorise Legal Services to execute the
staircasing transaction from 12.5% to 100% ownership for the DIY
shared ownership 2-bedroom bungalow at x Hawks Place, Bersted,
Bognor Regis. The property valuation is £275,000; 87.5%
equates to £240,625. A discount of 35% is allowable subject
to a maximum of £38,000; the discount applied is
£38,000, resulting in a sale price of
£202,625.

Reasons for the decision

The decision is within delegated authority
under Constitution Part 7, Section 2, Paragraph 2.1.1 (Housing and
related functions) and enables the resident to staircase to full
ownership on the terms assessed, including the capped discount,
ensuring compliance with the valuation and discount policy and
delivering an appropriate outcome for the council and the
leaseholder

Alternative options considered

ALTERNATIVE OPTIONS CONSIDERED OR REJECTED
Maintain current 12.5% ownership: Not pursued as the resident
requested staircasing to 100% and eligibility/valuation supported
proceeding.

Apply a larger discount: Rejected; discount is capped at
£38,000 even though 35% could exceed this cap.