Subcouncil 8

Resolution detail

Not delegated: for decision by Council It is recommended that:

1. In terms of Sections 14(2)(a) and (b) of the Local Government: Municipal Finance Management Act 56 of 2003:

1. Council resolve that Erf 14707, situated at 73 Annike Close, Sercor Park, in The Strand, approximately 333 m² in extent and zoned Single Residential 1, Shown lettered ABCDE on Plan Lis 2663, is not needed to provide the minimum level of basic municipal services; and Sub-Council Report Re: Erf 14707, Strand Page 7 of 9
2. Council confirm that the fair market value of the asset described in (a)(i) above and the economic and community value to be received in exchange for the asset described in (a)(i) have been considered;

2. In terms of Regulation 5(1)(b) of the Municipal Asset Transfer Regulations (MATR), R. 878 promulgated on 22 August 2008, Council approve in principle the disposal of Erf 14707, Strand as described in (a)(i) above;
3. The desktop valuation is thus for indicative purposes and hence should not be used for purposes of transacting, in which case a more comprehensive analysis will be undertaken.
4. Notwithstanding the latter, the market value is to be reassessed if authority to advertise or in-principal approval has not been obtained by the relevant decision making authority of Council within 36 months from date of valuation (i.e. by 2025-02-28).