Subcouncil 7

Resolution detail

RESOLVED TO RECOMMEND

a)That in terms of section 14 of the Local Government Municipal Finance Management Act 56 of 2003, Council resolves, that a portion of Erf 1779 Bellville, in extent approximately 511 m² as shown cross-hatched and lettered ABCDEFG on Plan TA 519v0 (Annexure “A”) (agenda page 273) 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)That Council in-principle grants approval in terms of regulation 5(1)(b)(ii) of the Municipal Asset Transfer Regulations for the transfer of a portion of Erf 1779 Bellville, in extent approximately 511 m² as shown cross-hatched and lettered ABCDEFG on Plan TA 519v0 (Annexure “A”) (agenda page 273)

c)That the transfer of a portion of Erf 1779 Bellville, in extent approximately 511 m² as shown cross-hatched and lettered ABCDEFG on Plan TA 519v0 (Annexure “A”) (agenda page 273) to Ridgeworth Estates (Pty) Ltd, or its successor(s) in title, be approved, subject to the following conditions, that:

 

1. A purchase price of R1 150 000 excluding VAT be payable;

 

2. The purchase price is to be escalated by 5% per annum, compounded annually on a pro-rata basis, commencing 6 months from date of valuation, i.e. from 1 July 2021, until date of registration;

 

3. The valuation is to be reviewed if not implemented within 24 months from date of valuation, i.e. by 31 December 2022;

 

4. Rates and municipal charges, if applicable, be levied; and

 

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, including the consolidation of the subject portion with the applicant’s adjacent properties;
 
bb) that the existing road and electrical substation located on the applicant’s Erf 1991 Bellville, and indicated as DHJKLM on Plan TA 519v0 (agenda page 273), be ceded to the City free of charge as a condition of subdivision; and
 
cc)  that all costs related and incidental to the transaction be borne by the purchaser.
 
ACTION:         PIETER STRUMPHER