Subcouncil 16

Resolution detail

RESOLVED to recommend that:
 

1. Council resolve in terms of section 14 of the Local Government : Municipal Finance Management  Act, Act 5 of 2003,that Public Street being a portion  of unregistered state  Land and erf 5161 ( Public Street) Cape Town situated at Corner of Plein and Barrack Street, Cape Town, as depicted  by the figure ABCDEFG measuring  approximately 38m² in extent on the attached sketch STC 3166 marked  annexure A, is not  required 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 the exchange for the asset.

2. Council APPROVE the in-principle approval for the granting of rights to use, control and manage municipal capital  asset by way of transferring a building rights servitude over portion of Unregistered State Land and erf 5161(Public Street) Cape Town situated at Corner Plein and Barrack Street  Cape Town ,as depicted by the figures ADCDEFG measuring approximately 38m² in extent on the attached sketch STC 3166 marked annexure A,in terms of regulation 5(1)(b)(ii) of the Municipal Asset Transfer Regulations