Subcouncil resolution details
Subcouncil 17
Agenda item no
17SUB 17/8/2024
Subject
PROPOSED LEASE OF A PORTION OF ERF 321 WELTEVREDEN VALLEY,
8B MADISON DRIVE, COLORADO PARK FOR TELECOMMUNICATION
INFRASTRUCTURE PURPOSES: RICH REWARDS LEASING (PTY) LTD.
Meeting date
Monday, August 26, 2024
Resolution
,Recommend
Date closed
Tuesday, September 03, 2024
Resolution detail
RESOLVED to RECOMMENDED that:
The lease of a portion of City land, being a portion of Erf 321 Weltevreden Valley, situated at 8B Madison Drive, Colorado Park shown hatched and lettered ABCD on the attached sketch marked Annexure A, in extent approximately 12.5m², to Rich Rewards Leasing (Pty) Ltd, be approved subject to inter alia the following conditions, that:
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A City approved rental of R5 056,20 per month (exclusive of electricity and VAT) where applicable be payable;
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The rental will escalate at 6% per annum;
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The lease will endure for a period of 10 years, subject at any time to 2 months’ notice of termination;
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The proposed leased area to be used for telecommunication infrastructure purposes only;
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Subject to such further conditions imposed by the Director: Property Transactions in terms of his delegated authority;
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Subject to compliance with any other statutory requirements;
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No compensation will be payable for any improvement made to the property;
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The objections received during the public participation process not be upheld.
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Action: Secretariat |
