Subcouncil 15

Resolution detail

Not Delegated: For Decision: Council
 
It was 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, erf 1182 Langa, situated on the corner of Sandile and Washington Street, Langa, in extent approximately 2899 m² as shown cross-hatched and lettered ABCDE on Plan STC 2656, attached to the report as 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;
2. Council grants in-principle approval in terms of regulation 5(1)(b)(ii) of the MATR for the transfer of erf 1182 Langa situated on the corner of Sandile and Washington Street, Langa, in extent approximately 2899 m² as shown cross-hatched and lettered ABCDE on Plan STC 2656, attached to the report as annexure A
3. Council confirm that when considering the sale of the property at less than market value, as provided for in terms of section 15.3 of Council’s Policy on the Management of Certain of the City of Cape Town’s Immovable Property, that the provisions of regulation 13(2) of the MATR have been duly taken into consideration;
4. Any gain or loss incurred by the City in respect of the transfer of the asset as described in (a) above be included in the adjustment budget, if not budgeted for in the approved annual budget.
5. The transfer of erf 1182 Langa, situated on the corner of Sandile and Washington Street, Langa, in extent approximately 2899 m² as shown cross-hatched and lettered ABCDE on Plan STC 2656, attached to the report as annexure A, to the Langa Baptist Church of its successor(s) in title, be approved subject to inter alia to the following conditions that:

1. A purchase price of R166 750.00 excluding VAT be payable;
2. 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. 1 September 2018 until date of registration of transfer;
3. The subject property be utilised for religious purposes only and for purposes ancillary thereto, and no other purposes whatsoever.
4. A suitable reversionary clause shall be included in the title deed.
5. Subject to such further conditions to be imposed by the Director: Property Management in the exercise of her delegated authority.