Subcouncil 16

Resolution detail

Cllr Dave Bryant stated that the CCID is doing an excellent job and commended them for a job well done. A) Cape Town Central Improvement District was represented by Mr Tasso Evangelinos and Mr N Rawoot. Cllr Dave Bryant stated that the CCID is doing an excellent job and commended them for a job well done. Issues raised by Cllr Anstey: • R27 million in reserve – any plans going forward? • What’s the possibility of reducing the % of ratepayers’ contribution? • Vast increase in (i) insurance cost, (ii) bank charges, (iii) subscription and (v) entertainment. Mr Evangelinos responded as follows: • Surplus include; - R10 million of the R27 million is still with COCT (not paid yet) - it is a legal requirement to retain three (3) months’ surplus to ensure operational stability. • CCID has identified special projects which can possibly be funded by the surplus. Mr Nazeer Rawoot responded as follows: • The increase in subscriptions is related to IDA (International Downtown Association) costs. These costs are subject to foreign exchange rates, which resulted in a higher cost. In addition, additional newspaper subscriptions were entered into, to ensure CCID exposure is monitored. • As the CCID moved into its own premises, it facilitated more meetings with various stakeholders. This resulted in an increase in costs for these meetings. • The increase in bank charges is related to the new Project Bank Accounts as well as an increase in relation to banking service. These were previously shared costs with the previous managing agent. B) Sea Point City Improvement District was represented by Ms Heather Tager. Cllr Shayne Ramsay commended the SPCID for their excellent work done. C) Green Point City Improvement District was represented by Mr Marc Truss. Cllr Dave Bryant stated that Cllr Brandon Golding is on the GPCID board and the GPCID success is enhanced by the public/private partnership. D) Oranje/Kloof City Improvement District was represented by Mr Marc Truss Cllr Brandon Golding commended the CIDs for their good work – working across borders. Cllr Anstey mentioned that no interest was reflected in the financial statement. Mr Truss responded that an account for this purpose has now been opened. E) Llandudno Special Rating Area was represented by Ms Marguerite Bond-Smith. Cllr Roberto Quintas thanked for the SRA for their hard work. F) Woodstock City Improvement District tendered an apology in respect of the meeting. Cllr Bryant stressed that the Subcouncil has an oversight role as to CIDs and that it is essential that the Woodstock CID be represented at the next meeting for possible questions. G) Observatory City Improvement District was represented by Mr Hudson McComb. Cllr Anstey mentioned that this is the first CCID to reduce expenses compared to the previous year. H) Paarden Eiland City Improvement District was represented by Ms Patricia Tallant. Cllr Bryant mentioned that PECID is operating well. UNANIMOUSLY RESOLVED that: a) Subcouncil 16 notes the contents of the Audited Annual Financial Statements and Annual Reports of the special rating areas. b) Woodstock City Improvement be invited to the next Subcouncil meeting. c) Subcouncil manager forward a letter of thanks to all CIDs.