Subcouncil 8

Resolution detail

It is recommended that::

1. Council resolve in terms of regulation 20(1)(f)(i) of the Municipal Asset Transfer Regulations that erf 34719 Strand, shown lettered ABCD on the attached diagram no. 646/2016 marked annexure A is not required for the provision of any minimum level of basic municipal services and is surplus to the requirements of the Municipality;

 

2. The transfer of erf 34719 Strand, located at 80B Onverwacht Road, Strand, and shown lettered ABCD on the attached diagram no. 646/2016 marked annexure A, in extent 8 163 m², to the Western Cape Department of Transport and Public Works, or its successor(s) in title, be approved, subject inter alia to the following conditions, that:

 
i)       A less than market related purchase price of R152 500 excluding VAT calculated at the rate applicable at the time of transaction, where applicable, be payable;
 
ii)      The purchase price is to be adjusted by 5% per annum compounded annually on a pro rata basis, commencing from six months after the date of valuation, i.e. from 1 October 2021, until the date of registration;
 
iii)      The valuation is to be reviewed if not implemented within 24 months from date of valuation, i.e. by 1 March 2023;
 
iv)     A suitable reversionary clause limiting the use of erf 34719 Strand to educational purposes, to be registered against the title deed of the subject property;
 
v)      Rates and municipal charges, if applicable, be levied;
 
iv)     Subject to such further conditions 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 erf 34719 Strand be consolidated with the purchaser’s erf 11112 Strand;
cc)          that all costs related and incidental to the transaction be borne by the City of Cape Town (Human Settlements).