Subcouncil 19

Resolution detail

RECOMMENDED that,
 
the right to use and manage the parking at Jubilee Square and Wharf Street (Erf. 1069-Re) Simonstown, as shown on the attached aerial map marked Annexure A in extent approximately 8122m², by STADCO, be approved subject, inter alia to the following conditions that:
 

1. A market related rental was assessed at R29 300 per month inclusive of rates and excluding VAT escalating at 6% per annum applicable at the time of transaction be payable. The City’s accounting policy makes provision to offset expenses/maintenance against the rental subject to Council approval. It is recommended that a tariff rental of R 995.65 per annum excluding VAT subject to STADCO undertaking the full maintenance of the area. The discount takes into consideration the estimated costs should the City have to manage the area.

2. The rental will be adjusted annually in terms of the rental tariff structure as approved by Council.

3. The management agreement be extended for a further period of ten years instead of three years only, to regularize the current use. The property will be re-assessed to optimise and determine the highest and best use for the property for the broader area and community.

4. The property be used for the purposes of managing the parking at Jubilee Square and Wharf Street and public toilets area only;

5. STADCO to be held fully liable for all maintenance of the property within their management area as described above;

6. Repairs and maintenance will be at no cost to the City for the duration of this management agreement;

7. Subject to such further conditions to be imposed by the Director: Property Management in terms of her delegated authority, if any;

8. Subject to compliance with any other statutory requirements;

1. No compensation will be payable for any improvement made to the property, with or without the consent of Council, should the management agreement be terminated for any reason whatsoever.