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, Act 56 of 2003, the subject property being a portion of City land (Unregistered State Land) abutting Erf 3640 Oranjezicht, situated off Kloof Nek Road, Oranjezicht, in extent approximately 42 m², shown by the hatched figure lettered ABCD, on the Plan STC 3004 marked Annexure A attached to the report, is not required 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-principal approval in terms of regulation 5(1)(b)(ii) of the Municipal Asset Transfer Regulations for the transfer of a portion of City Land abutting Erf 3640 Oranjezicht, situated off Kloof Nek Road, Oranjezicht, in extent approximately 42 m², shown hatched and lettered ABCD, on the Plan STC marked 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 of the closure of the subject property being portion of City land abutting Erf 3640 Oranjezicht, situated off Kloof Nek Road, Oranjezicht, in extent approximately 42 m², shown hatched and lettered ABCD, on the Plan STC 3004 marked Annexure A attached to the report;

4. The transfer of a portion of City land (Unregistered State Land) abutting Erf 3640 Oranjezicht situated off Kloof Nek Road, Oranjezicht, in extent approximately 42 m², shown hatched and lettered ABCD, on the Plan STC 3004 marked Annexure A attached to the report, to Stefan Antoni Family Trust, or its successor(s) in title BE APPROVED, subject to the following conditions, that:

1. A purchase price off R555 000.00 excluding VAT be payable;

2. The purchase price is to be escalated by 8% per annum compounded annually on a pro-rata basis commencing 6 months from date of valuation, i.e. 1 September 2018 until date of registration;

3. Rates and municipal charges, if applicable, be levied