Subcouncil 16

Resolution detail

RESOLVED to RECOMMEND that:
 

1. In terms of Section 14(2)(a) and (b) of the Municipal Finance Management Act (MFMA), Act 56 of 2003:

1. Council resolves that Portion of Remainder Erf 14888 Cape Town, situated at Newmarket Street, Foreshore, in extent approximately 1.04 hectares, zoned Transport 2 (TR2): Public Road & Public Parking on the Plan LIS 2791 attached to the report, not be required for the provision of the minimum level of basic municipal services;

2. Council confirms that the fair market value of the assets described in (a)(i) and the economic and community value to be received in exchange for the assets described in (a)(i) have been considered. In terms of Regulation 5(1)(b) of the Municipal Asset Transfer Regulations (MATR), R.878 promulgated on 22 August 2008, Council approves in principle the transfer of Portion of Remainder Erf 14888, situated at Newmarket Street, Foreshore, as described in (a)(i);
3. Portion of Remainder Erf 14888 Cape Town, situated at Newmarket Street, Foreshore, be transferred by way of public competition, subject to conditions to be imposed by the Director: Property Management in the exercise of her delegated authority;
4. Council confirms that when considering the sale of the property at less than market value, the contents of Regulation 13(2) of the MATR have been duly taken into account.

5. In terms of Section 4 of Council’s Immovable Property By-Law 2015, Council approves the public place closure of Portion of Remainder Erf 14888 Cape Town, situated at Newmarket Street, Foreshore.

6. The comments and recommendations provided by National and Provincial Treasury, be noted.