Subcouncil 7

Resolution detail

RESOLVED TO RECOMMEND Not Delegated: Final decision Council and noting by Subcouncil 7 a) Council resolve that, in terms of section 14 of the Local Government Municipal Finance Management Act 56 of 2003, that the subject property, being a portion of Remainder Erf 702 Eversdale, in extent approximately 260 m² as shown cross-hatched and lettered ABCD on Plan TA 799v1 (Annexure “A”), is not needed to provide the minimum level of basic municipal services and has considered the fair market value of the asset and the economic and community value to be received in exchange for the asset; b) Council grants in-principle approval in terms of regulation 5(1)(b)(ii) of the Municipal Asset Transfer Regulations for the disposal of a portion of Remainder Erf 702 Eversdale, in extent approximately 260 m² as shown cross-hatched and lettered ABCD on Plan TA 799v1 (Annexure “A”); c) Council, in terms of section 4 of the City of Cape Town Immovable Property By-law, 2015, approve the closure of a portion of a Public Place, being a portion of Remainder Erf 702 Eversdale, in extent approximately 260 m² as shown cross-hatched and lettered ABCD on Plan TA 799v1 (Annexure “A”); d) That the disposal of a portion of Remainder Erf 702 Eversdale, in extent approximately 260 m² as shown cross-hatched and lettered ABCD on Plan TA 799v1 (Annexure “A”) to JH van Heerden Family Trust, or their successor(s) in title, be approved, subject to the following conditions, that: vi) A purchase price of R100 000 excluding VAT of 15% where applicable, being R15 000 (in total R115 000), be payable; vii) The purchase price is to be escalated by 8% per annum compounded annually on a pro-rata basis, commencing from date of valuation, i.e. from 01 January 2018; viii) The valuation is to be reviewed if not implemented within 18 months from date of valuation, i.e. by 1 July 2019; ix) That occupation rent at R500.00 per month, excluding VAT, be charged from 1 January 2018 until date of registration; x) Rates and municipal charges, if applicable, be levied. xi) Subject to such further conditions to be imposed by the Director: Property Management in terms of her delegated authority, including inter alia the following: aa) that all further statutory and land use requirements be complied with; bb) that the subject portion of Remainder Erf 702 Eversdale consolidated with the purchaser’s residential portion of Erf 702 Eversdale; cc) that a service servitude be registered over the underground electrical services and sewer line traversing the subject property. Should any alterations or deviations to the underground electrical services be required, it will need to be carried out at the applicant’s cost. dd) The current lease agreement be terminated on date of registration; and ee) that all costs related and incidental to the transaction be borne by the purchaser. ACTION: PIETER STRUMPHER