Subcouncil 16

Resolution detail

UNANIMOUSLY RESOLVED to RECOMMEND 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 318 Vredehoek, situated off Mckenzie Street, Gardens in extent on Plan STC 3061, Annexure A attached to the report, 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 g(b)(ii) of the Municipal Asset Transfer Regulations for the transfer of a portion of Erf 318 Vredehoek situated off McKenzie Street, Gardens, in extent approximately 138 m² as shown cross-handed and lettered ABCD and Plan STC 3061, Annexure A attached to the report;
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 Road, being a Portion of Erf 138 Vredehoek, in extent approximately 138 m² as shown cross-hatched and lettered ABCD on Plan STC 3061, Annexure A attached to the report;
4. The transfer of a Portion of Erf 318 Vredehoek, in extent approximately  138 m² as shown cross-hatched and lettered ABCD on Plan STC 3061, Annexure A attached to the report to Lizette Frank, or her successor(s) in title BE APPROVED, subject to the following conditions, that:

 

1. A purchase price of R620 000 excluding VAT be payable;
2. The purchase price is to be escalated by 8% per annum compounded annually on a pro-rata basis, commencing from date of valuation, i.e. from 1 May 2018, until of registration;
3. An amount of R4 650 per month, escalating at 8% p.a. with effect from 1 May 2018 be charged in lieu of rental until date of registration of transfer of the subject property into the applicant’s life’
4. The valuation is to be reviewed if not implemented within 18 months from date of valuation, i.e. by 1 December 2019.
5. Rates and municipal charges, if applicable, be levied.
6. 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 318 Vredehoek be consolidated with
       the purchaser’s Erf 235 Vredehoek;
 
cc)  that a service servitude be registered over the underground
       100mm water main situated in the verge.  No permanent
       Structures are allowed in the servitude area:
 
dd)  a reversionary clause in favour of the City of Cape Town be
       registered against the title of the property;
 
ee)  the current lease agreement be terminated on date of registration;
 
ff)    that all costs related and incidental and incidental to the
       transaction be borne by the purchaser.