Subcouncil 15

Resolution detail

It was RESOLVED that Subcouncil 15 SUPPORTED and RECOMMENDED that

a)Council resolve that, in terms of section 14 of the Local Government        Municipal Finance Management Act 56 of 2003, the subject properties,          being portions of Remainder Erf 8372 Milnerton and Remainder Erf 17849 Cape Town, situated off Milner Street, Paarden Eiland, in extent approximately 795 m² and as shown cross-hatched and lettered ABCDEFGHJKL on plan TA 1139v1, attached to the report, as Annexure A, are not needed to provide the minimum level of basic municipal services and has considered the fair market value of the assets and the economic and community value to be received in exchange for the assets;

b)Council grants in-principle approval in terms of regulation 5(1)(b)(ii) of the Municipal Asset Transfer Regulations for the transfer of portions of Remainder Erf 8372 Milnerton and Remainder Erf 17849 Cape Town, situated off Milner Street, Paarden Eiland, in extent approximately 795 m² and as shown cross-hatched and lettered ABCDEFGHJKL on plan TA 1139v1, attached to the report as Annexure A; 

c)Council, in terms of section 4 of the City of Cape Town Immovable Property By-law, 2015, approve the closure of Public Roads, being portions of Remainder Erf 8372 Milnerton and Remainder Erf 17849 Cape Town, situated off Milner Street, Paarden Eiland, in extent approximately 795 m² and as shown cross-hatched and lettered ABCDEFGHJKL on plan TA 1139v1, attached to the report, as Annexure A; and

d)The transfer of portions of Remainder Erf 8372 Milnerton and Remainder Erf 17849 Cape Town, in extent approximately 795 m² and as shown cross-hatched and lettered ABCDEFGHJKL on plan TA 1139v1, attached to the report, as Annexure A, to GK Marketing (Pty) Ltd or its successor(s) in title, be approved, subject to the following conditions, that:

1. A purchase price of R1 275 000, 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 October 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 March 2023;

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: