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, the subject property being a portion of Erf 957 Bantry Bay, situated at Ocean View Drive, Bantry Bay, in extent approximately 23 m², shown by the hatched figure lettered ABC, on the attached Plan STC 3263 (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 exchange for the asset;

 

2. 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 957 Bantry Bay, situated at Ocean View Drive, Bantry Bay, in extent approximately 23 m², shown by the hatched figure lettered ABC, on the attached Plan STC 3263 (Annexure “A”);

 

3. Council in terms of section 4 of the City of Cape Town Immovable Property By-Law, 2015, approve the closure of the subject property being a portion of Erf 957 Bantry Bay, situated at Ocean View Drive, Bantry Bay, in extent approximately 23 m², shown by the hatched figure lettered ABC, on the attached Plan STC 3263 (Annexure “A”);

 

4. The transfer of a portion of Erf 957 Bantry Bay, situated at Ocean View Drive, Bantry Bay, in extent approximately 23 m², shown by the hatched figure lettered ABC, on the attached Plan STC 3263 (Annexure “A”); to Paul Benjamin Waldburger, or his successor(s) in title, be approved, subject to the following conditions, that:

 

1. A purchase price of R200 000. excluding VAT be payable;
2. The purchase price is to escalate at 5% per annum compounded annually on a pro-rata basis commencing from 01 May 2020 until date of registration;
3. That the market value be reassessed if the transaction is not approved within 18 months from date of valuation,

i.e. 2021-05-01.

4. Subject to such further conditions to be imposed by the Director: Property Management in terms of her delegated authority, inter alia the following:

 
aa) that all further statutory and land use requirements be
       complied with;
 
bb) that the subject portion of Erf 957 Bantry Bay be
       consolidated with the purchaser’s Erf 779 Bantry Bay;
 
cc)  that all costs related and incidental to the transaction be
       borne by the purchaser.