Subcouncil 7

Resolution detail

RESOLVED TO RECOMMEND Not Delegated: Final decision Council and noting by Subcouncil 7 a) 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 1247 Fisantekraal situated off Lords Street, Fisantekraal, in extent approximately 1 690 m² as shown cross-hatched and lettered ABCDEFG on Plan TA597v0 (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; b) Council grants in-principle approval in terms of regulation 5(1)(b)(ii) of the Municipal Asset Transfer Regulations for the disposal of a portion of Erf 1247 Fisantekraal situated off Lords Street, Fisantekraal, in extent approximately 1 690 m² as shown cross-hatched and lettered ABCDEFG on Plan TA597v0 (Annexure “A”); c) Council, in terms of section 4 of the City of Cape Town Immovable Property By-law, 2015, approve the closure of a public place, being a Portion of Erf 1247 Fisantekraal situated off Lords Street, Fisantekraal, in extent approximately 1 690 m² as shown cross-hatched and lettered ABCDEFG on Plan TA597v0 (Annexure “A”); d) That the disposal of a Portion of Erf 1247 Fisantekraal situated off Lords Street, Fisantekraal, in extent approximately 1 690 m² as shown cross-hatched and lettered ABCDEFG on Plan TA597v0 (Annexure “A”) to Won Life (023-016-NPO), or their successor(s) in title, be approved, subject to the following conditions, that: i) A purchase price of R52 500, excluding VAT, be payable. ii) The purchase price is to be escalated by 6% per annum compounded annually on a pro-rata basis, commencing 6 months from date of valuation, i.e. from 1 May 2017, until date of registration; iii) The valuation is to be reviewed if not implemented within 18 months from date of valuation, i.e. by 1 May 2018; iv) Rates and municipal charges, if applicable, be levied. v) 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 property be utilized for pre-school (Community 1) purposes, and a reversionary clause in favour of the City of Cape Town be registered against the title of the property; cc) The current lease agreement be terminated on date of registration; and dd) that all costs related and incidental to the transaction be borne by the purchaser. e) It be confirmed that, when considering the alienation of the land 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 has been duly taken into consideration. ACTION: PIETER STRUMPHER