Subcouncil 16

Resolution detail

  RESOLVED to RECOMMEND that:
 
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 erf 2341, situated at Invermark Crescent, Oranjezicht, in extent approximately 136 m² as shown cross-
           hatched and lettered ABCD on Plan STC 3103 (Annexure “A”) attached to the report, 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 transfer of a
           portion of erf 2341, situated at Invermark Crescent, Oranjezicht, in extent approximately 136 m² as shown cross-hatched and
           lettered ABCD on Plan STC 3103 (Annexure “A”) attached to the report;
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 erf 2341,
          situated at Invermark Crescent, Oranjezicht, in extent approximately 136 m² as shown cross-hatched and lettered ABCD on Plan
          STC 3103 (Annexure “A”) attached to the report;
 
d)      That the transfer of a portion of Erf 2341, situated at Invermark Crescent, Oranjezicht, in extent approximately 136m² as shown cross-
           hatched and lettered ABCD on Plan STC 3103 (Annexure “A”) attached to the report, to Monica Suzanne Van Zyl, or her successor(s)
           in title, BE APPROVED, subject to the following conditions, that:

1. A purchase price of R940 000, 00 excluding VAT be payable;
2. The purchase price is to be escalated by 8% per annum compounded annually on a pro-rata basis commencing from 01 June 2019 until 31 March 2020. Thereafter, the escalated purchase shall escalate at 5% per annum until date of registration;
3. Occupational rental of R3 900 per month, escalating at 8% per annum, shall be payable from 1 June 2019 until 31 March 2020. Thereafter the escalated occupational rental shall escalate at 6% per annum, until date of registration.
4. A servitude to be registered in order to protect underground services.
5. 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 after closure the subject portion of Erf 2341 Oranjezicht must be consolidated with the purchaser’s Erf 2325;
cc)      that all costs related and incidental to the transaction be borne by the purchaser.
dd)     the applicant will be liable for all costs in connection with this transaction i.e. survey, rezoning, transfer and Impact Assessment.