Subcouncil 16

Resolution detail

 RESOLVED to RECOMMEND that:
 

1. Council resolve that, in terms of section 14 of the Local Government: Municipal   Finance Management Act, Act 56 of 2003, a portion of erf 1304 Hout Bay being a portion of public street, situated at Sunset Avenue, Llandudno, Hout Bay in extent approximately 245 m² as shown lettered ABCD on Plan LT 1509v1 (Annexure “A”) attached to the report, not be 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 exchange for the asset;

 
      (b)    Council approve the granting of 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 1304 Hout Bay being a portion of a public street, situated at Sunset Avenue, Llandudno, Hout Bay, in extent approximately 245 m², as shown lettered ABCD on Plan LT 1509v1 (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 1304 Hout Bay, being a portion of public street, situated at Sunset Avenue, Llandudno, Hout Bay, in extent approximately 245 m² as shown hatched and lettered ABCD on plan LT 1509v1, as annexure A attached to the report;
 
      (d)    That the transfer of a portion of Erf 1304 Hout Bay being a portion of a public street, situated at Sunset Avenue, Llandudno, Hout Bay, in extent approximately 245 m², as shown lettered ABCD on Plan LT 1509v1 (Annexure “A”) attached to the report, to Worthcor Property Investments CC or their successor(s) in title, BE APPROVED subject inter alia to the following conditions, that:
 

1. The property be sold for the sum of R2 050 000, exclusive of Vat at 15% being R307 500 (in total R2 357 500) plus costs;

 

2. The sales price shall escalate at 8% per annum compounded annually on a pro rata basis commencing 6 months from date of valuation (i.e. as from 2020-04-01). The escalated sale’s price will from this date escalate at 5% per annum until date of registration;

 

3. The market value is to be reassessed if the transaction is not approved by the relevant decision making authority of Council within 18 months from date of valuation ( i.e by 2021-04-01);

 

4. Land is to be transferred/ sold with no limiting conditions

 

5. Subject to such further conditions to be imposed by the Director: Property Management in the exercise of her delegated authority; including inter alia the following:              

                   aa. Subject to compliance with any other statutory requirements; 

                  bb. All costs related to the transaction be borne by the applicants;

 

                cc.    The City of Cape Town’s water by-law be adhered to;

 

            dd.     Any alterations or deviations to electricity services necessary as a   consequence of the proposal, or requested by the  
                      applicant, will be carried out at the applicant’s cost.
         ee.    Electrical infrastructure may exist on the property and in the vicinity.   A way-leave shall be obtained from the electricity 
                  Generation and distribution Department before any excavation work may commence. In this regard, kindly contact the Drawing
                  and Record Office (South) @ telephone number 021 7635650.

           ff.   It is the responsibility of the applicant to notify Telkom immediately should the applicant locate any Telkom plant which might not
                 be indicated on the plan.

          gg.     It must be made known to the applicant that Telkom requires access   to carry out maintenance or upgrade existing plants at all
                 times

 

          hh.    Telkom’s way-leave with reference number WWIP_WSST1002_18 to be complied with