Subcouncil resolution details
Subcouncil 22
Agenda item no
22SUB 12/2/2020
Subject
PROPOSED LEASE ENCROACHMENT ONTO PUBLIC STREET, PORTION OF ERF 351 ADJACENT TO ERF 493, CORNER OF MUSCAR AND MUSANTE ROADS, RUSTDAL: J & D FAMILY TRUST
Meeting date
Monday, February 17, 2020
Resolution
Recommend
Date closed
Monday, February 24, 2020
Resolution detail
RESOLVED
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That Subcouncil 22 recommend
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A market rental of R550 per month inclusive of rates and excluding VAT calculated at the rate applicable at the time of transaction be payable;
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The monthly rentals is to be adjusted on the basis of 8% per annum compounded annually on a pro rata basis commencing 2 months from date of this evaluation. Accordingly, the above recommended rental is effective and payable as from 2018-11-01;
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The rental will escalate at 8% per annum;
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The rental to be reviewed after five (5) years;
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The lease will endure for a period of ten (10) years;
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The property be used for encroachment purposes only;
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Subject to such further conditions to be imposed by the Director: Property Management in terms of her delegated authority;
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Subject to compliance with any other statutory requirements;
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No compensation will be payable for any improvement made to the property.
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The Proposed Lease Encroachment onto Public street, Portion of ERF 351 Adjacent to ERF 493, Corner of Muscar and Musante Roads, Rustdal: J&D Family Trust, BE SUPPORTED.
ACTION ROXANNE MOSES/ NOMPUMELELO FAKU