Subcouncil 18

Resolution detail

Not delegated: for decision by Council and noting by subcouncil 18 It is recommended that: a)In terms of section 14(2)(a) and (b) of the Municipal Finance Management Act (MFMA), Act 56 of 2003: i)Council resolve that erf 152302, Cape Town, situated at Hek Street, Lavender Hill, in extent approximately 674 m², zoned Community Zone 1: Local (CO1), shown lettered ABCDE on Plan LIS 1632v0, not be required for the provision of the minimum level of basic municipal services; ii)Council confirm that the fair market value of the asset described in (a)(i) and the economic and community value to be received in exchange for the asset described in (a)(i) have been considered; b)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 152302, Cape Town, as described in (a)(i); c)Erf 152302, Cape Town be disposed of by public competition, at a discounted value for community and/or social care purposes as provided for in terms of clause 15.3 of Council’s Policy on the Management of Certain of the City of Cape Town’s Immovable Property, subject to conditions to be imposed by the Director: Property Management in the exercise of her delegated authority; d)Council confirm that when considering the disposal of the property at less than market value as provided for in terms of clause 15.3 of Council’s Policy on the Management of Certain of the City of Cape Town’s Immovable Property, the contents of Regulation 13(2) of the MATR have been duly taken into account. e)Any gain or loss incurred by the municipality in respect of the transfer of the asset be included in the adjustment budget of the municipality (sections 28 and 87 of the MFMA), if not budgeted for in the approved annual budget.