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, that the subject property being a portion of  Erf 371 Clifton, situated off Victoria Road, Clifton, approximately 161m² in extent as shown cross-hatched and lettered ABCDEFGHIJKLM on the Plan STC 2162 v1 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 grants in-principle approval in terms of regulations 5(1)(b)(ii) of the Municipal Asset Transfer Regulations for the transfer of a portion of Erf 371 Clifton situated off Victoria Road Clifton, approximately 161m² in extent as shown cross-hatched and lettered ABCDEFGHIJKLM on Plan STC 2162 v1, 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 a portion of Erf 371 Clifton situated off Victoria Road, Clifton, approximately 161m² in extent, as shown cross hatched and lettered ABCDEFGHIJKLM, on the Plan STC 2162 v1, Annexure A, attached to the report.  

 

4. The transfer of a portion of Erf 371 Clifton situated off Victoria Road, Clifton approximately 161m² in extent as shown cross-hatched and lettered ABCDEFGHIJKLM, on the Plan STC 2162 v1, Annexure A, attached to the report to Angela Levy Beck, or her successor(s) in title, BE APPROVED, subject to the following conditions that:

 

1. A purchase price of R3 950 000.00 excluding VAT be payable;

 

2. The purchase price is to be escalated by 8% per annum compound annually on a pro-rata basis commencing 6 months from date of valuation, i.e. 1 July 2019 until the 31 March 2020.The escalated purchase price will thereafter escalate at 5% p.a until date of registration.

 

3.  A title deed restriction be registered which prevents any additional building rights to be obtained once consolidated and similarly preventing the consolidated property being divided once consolidated;

 

4. 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 after closure the subject property i.e.  portion of Erf 371 Cape
      Town must be consolidated with the purchaser’s Erf 370 Cape
      Town;
 
cc)  that all costs related and incidental to the transaction be borne by
       the purchaser;
 
ee) that the applicant be liable for all costs in connection with this
      transaction i.e. survey, rezoning, transfer and Impact Assessment.