Subcouncil 7

Resolution detail

UNANIMOUSLY RESOLVED TO RECOMMEND:
 

1. Council resolve that, in terms of sections 14 of the Local Government Finance Management Act, 56 of 2003, that the subject property, being a Portion of Erf 3858 Eversdal, situated at Richelieu Street, Eversdal, in extent approximately 889 m and as shown attached and lettered ABCD on Plan 1067v1 (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 Municipal Asset Transfer Regulations for the transfer of a Portion of Erf 3858 Eversdal, in extent approximately 889 mas shown hatched and lettered ABCD on Plan 1067v1 (Annexure “A”),
3. That the transfer of a Portion of Erf 3858 Eversdal, situated at Richelieu Street, Eversdal, in extent approximately 889 mas shown hatched and lettered ABCD on Plan 1067v1 (Annexure “A”), to Gunthar Jacobs, or his successor(s) in title, be approved, subject to the following conditions, that:

1. A purchase price of R600 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 February 2020 until 30 March 2020, and at 5% from 1 April 2020 until day of registration;
3. The valuation is to be reviews if not implemented within 24 months from date of valuation, i.e. by 2022-01-31;
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

1. That all further statutory and land use requirements be complied with, including the consolidation of the subject portion with the applicant’s existing property;

28. Service servitudes in favour of the City be registered over the underground services located within the subject property;

55. That all costs related and incidental to the transaction be borne by the purchaser.