Subcouncil 8

Resolution detail

 It is recommended that the lease of City land and Council building on portion of erf 2913 situated at Victoria Street, Somerset West, shown bordered grey and lettered ABCDEFGHJ on the attached sketch ET 189/1 marked annexure A, in extent approximately 1 257 m², to The Tereo Project, or their successors in title, BE APPROVED subject to inter alia the following condition, that:
 

1. A tariff rental of R883,48 per annum excluding VAT calculated at the rate applicable at the time of transaction by payable. Rates not applicable;

2. The lease will endure for a period of ten (10) years with an option to renew for further ten (10) years.

3. The rental will be adjusted annually in terms of the rental tariff structure as approved by Council;

4. The property be used for social (educational) purposes only;

5. Subject to such further conditions to be imposed by the Director: Property Management in terms of her delegated authority;

6. Subject to compliance with any other statutory requirements;

7. No compensation will be payable for any improvement made to the property.