Subcouncil 16

Resolution detail

RESOLVED to RECOMMEND that:

a)Council resolve that, in terms of section 14 of the Local Government   Municipal Finance Management Act 56 of 2003, the subject property,       being a portion of Erf 1558 Camps Bay situated on Ravensteyn Road, Camps Bay, in extent approximately 0.5m² as shown cross-hatched and lettered ABC on plan STC 2911 (Annexure “A”) attached to the report, 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)Council grants in-principle approval in terms of regulation 5(1)(b)(ii) of the Municipal Asset Transfer Regulations for the transfer of a portion of Erf 1558 Camps Bay situated on Ravensteyn Road, Camps Bay in extent approximately 0.5 m² as shown cross-hatched and lettered ABC on plan STC 2911 (Annexure “A”) attached to the report;

c)Council, in terms of section 4 of the City of Cape Town Immovable Property By-law, 2015, approve the closure of the subject property being a portion of a public place being a portion of Erf 1558 Camps Bay situated on Ravensteyn Road, Camps Bay in extent approximately 0.5 m² as shown cross-hatched and lettered ABC on plan STC 2911 (Annexure “A”) attached to the report; 

d)The transfer of a portion of Erf 1558 Camps Bay situated on Ravensteyn Road, Camps Bay in extent approximately 0.5m² as shown cross-hatched and lettered ABC on plan STC 2911 (Annexure “A”) attached to the report,  to Gidion and Yossef Buoki or their successor(s) in title, BE APPROVED, subject to the following conditions, that:

 

1. A purchase price of R6 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 1 April 2021 until date of registration;

 

3. The valuation is to be reviewed if not implemented within 36 months from date of current valuation, i.e. by 31 January 2026.

 

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

 

5. Subject to such further conditions to be imposed by the Director: Property Management in terms of his delegated authority, including inter alia the following:

 
 
aa)      that all further statutory and land use requirements be complied with;
 
bb)      that the subject portion of Erf 1558 Camps Bay be consolidated with the purchaser’s Erf 1547 Camps Bay;
 
cc)      that all costs related and incidental to the transaction be borne by the purchaser.