Subcouncil 21

Resolution detail

RECOMMENDED that
 

1. Council resolve that, in terms of section 14 of the Local Government Municipal Finance Management Act 56 of 2003, the subject property, being portion of Erf 8936 Blue Downs, situated at Pearl Street Fairdale, Blue Downs, in extent approximately 75 m² as shown cross-hatched and lettered ABCD on Plan ET 747 (annexure A to the report), is not needed to provide the minimum level of basis 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 grant in-principle approval in terms of regulation 5(1)(b)(ii) of the Municipal Asset Transfer Regulations for the transfer of portion of erf 8936 Blue Downs, situated at Pearl Street Fairdale, Blue Downs, in extent approximately 75 m² as shown cross-hatched and lettered ABCD on Plan ET 747 (annexure A to the report);

 

3. Council, in terms of section 4 of the City of Cape Town Immovable Property By-law, 2015, approved the closure of the portion of the subject public place, being a portion of erf 8936 Blue Downs, situated at Pearl Street, Blue Downs, in extent approximately 75 m² as shown cross-hatched and lettered ABCD on Plan ET 747 (annexure A to the report);

 

4. The transfer of a portion of erf 8936 Blue Downs, in extent approximately 75 m² as shown cross-hatched and lettered ABCD on Plan ET 747 (annexure A to the report) to Chukwu Jeff Okonkwo as owner of abutting erf 42211 blue Downs, or his successor in title, be approved, subject to the following conditions, that:

 

1. A purchase price of R70 000,00 excluding VAT, be payable;

 

2. The purchase prices are to be escalated by 8% per annum compounded annually on a pro-rata basis, commencing 6 months from date of valuation, i.e. from 1 November 2019, until date of registration;

 

3. The valuation is to be reviewed if approved by the delegated authority within 18 months from date of valuation, i.e. by 1 November 2020;

 

4. Rates and municipal charges, if applicable, be levied;

 

5. 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 8936 Blue Downs be consolidated with the purchasers Erf 42211 Blue Downs;
 
cc)that service servitudes be registered over the underground municipal services traversing the subject property;
 
dd)that all costs related and incidental to the transaction be borne by the purchaser.
 
ACTION:           JEFFREY STAMPU / ANNEKE KLUE / ADELLE BANNISTER