Subcouncil 16

Resolution detail

Messrs. Donavon Geysman and Raafiq Kolia represented the Property Department. The Subcouncil Manager, Mr Marius Coetsee read the email from the Building inspector, Mr Rafeeq Fischer, advising that no fines had been issued - See Addendum C. Issues raised: • Cllr Brandon Golding suggested that the lease should be for five (5) years. • Cllr Diamond: the valuation was done in 2015 - does it still apply in 2017? In response, Mr Kolia stated that he would respond via email as to the valuation. UNANIMOUSLY RESOLVED to RECOMMEND that the lease of City land, being a portion of Erf 2342 Vredehoek, situated at 2 Escombe Road, Vredehoek, shown hatched and lettered ABCDE on the plan STC 2665 marked annexure A attached to the report, in extent approximately 105 m², to Ivanette Body Corporate, owner of Erf 1810 Vredehoek or its successors in title BE APPROVED subject to inter alia the following conditions that: a) A market-related rental of R9 933, 33 per annum excluding VAT of 14% where applicable being R1 390.67 in total – R11 324) be payable. The monthly rental is to be adjusted on the basis of 8% per annum compounded annually on a pro rata basis from 1 August 2015 (i.e. 8% ÷ 12 x period).The rental will be reviewed after five years; b) The lease will endure for a period of 5 years; c) The rental will escalate at 8 % per annum; d) The property be used for parking and landscaping purposes only; e) Subject to such further conditions to be imposed by the Director: Property Management in terms of her delegated authority; f) Subject to compliance with any other statutory requirements; g) No compensation will be payable for any improvements made to the property; h) The settlement of all outstanding accounts, if any, with the City of Cape Town.