Subcouncil 8

Resolution detail

It is recommended that:
 

1. Council resolve that, in terms of section 14 of the Local Government Municipal Finance Management Act 56 of 2003, that the subject property, being a portion of Erf 1688 Gordon’s Bay, situated off Protea Drive, Gordon’s Bay, in extent approximately 56 m² as shown cross-hatched and lettered ABCD on Plan ET 755 (Annexure A), 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;

 

2. 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 1688, Gordon’s Bay situated off Protean Drive, Gordon’s Bay, in extent approximately 56 m² as shown cross-hatched and lettered ABCD on Plan ET 755 (Annexure A);

 

3. 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, erf 1688 Gordon’s Bay, in extent approximately 56 m² as shown cross-hatched and lettered ABCD on plan ET 755 (Annexure A);

 

4. That the transfer of a Portion of Erf 1688, Gordon’s bay in extent approximately 56 m² as shown cross-hatched and lettered ABCD on Plan ET 755 (Annexure A) to Mogamad and Adela Nieftagodien, or their successor(s) in title, be approved, subject to the following conditions, that:

 

1. A purchase price of R110 00.00 excluding VAT be payable;

 
ii)    The purchase price is to be escalated by 5% per annum compounded annually on a pro-rata basis, commencing 6 months from date of valuation, i.e. from 1 October 2021, until date of registration;
 

2. The valuation is to be reviewed if not implemented within 24 months from date of valuation, i.e. by 31 March 2023;

 
iv)   Occupational rental: An amount of R550 per month (excluding   VAT) be charged with effect from 1 May 2019, which figure        shall escalate at 6% per annum until date of registration of             transfer of the subject property;
 
v)    Rates and municipal charges, if applicable, be levied;
 
vi) Subject to such further conditions to be imposed by the Director: Property Management in terms of her 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 1688 be consolidated/ notarial tied with the purchaser’s Erf 2199;
 
cc) that a service servitude be registered over the underground municipal services traversing the subject property;
 
dd) A reversionary clause in favour of the City of Cape Town be registered against the title of the property;
 
ee) that all costs related and incidental to the transaction be borne by the purchaser