Subcouncil 2

Resolution detail

RESOLVED unanimously by Subcouncil 2, for reasons provided in the report, that

a)Council resolve that, in terms of Section 14 of the Local Government       Municipal Finance Management Act ,56 of 2003, that a Portion of Erf 5867 Kraaifontein (Cnr. Darwin Road and Livingstone Road, Windsor Estate), in extent approximately 506 m² and as shown hatched and lettered ABCDE on Plan 933v3 (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;

b)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 5867 Kraaifontein, in extent approximately 506 m² as shown hatched and lettered ABCDE on Plan 933v3 (Annexure “A”);

c)That the transfer of a Portion of Erf 5867 Kraaifontein, in extent approximately 506 m² as shown hatched and lettered ABCDE on Plan 933v3 (Annexure “A”) to Wosprop 274 CC, or its successor(s) in title, be approved, subject to the following conditions, that:

 

1. A purchase price of R550 000 excluding VAT be payable;

 

2. The purchase price is to be escalated by 5% per annum, compounded annually on a pro-rata basis, commencing 6 months from date of valuation, i.e. from 1 February 2021, until date of registration;

 

3. The valuation is to be reviewed if not implemented within 2  months from date of valuation, i.e. by 31 July 2022;

 

4. Rates and municipal charges, if applicable, be levied; and

 

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:

 
aa)       that all further statutory and land use requirements be complied with, including the notarial tie of the subject portion with the       
             applicant’s existing property;
 
bb)       that the subject property may only be utilised for the provision of on-site parking once the applicant’s property has been rezoned to 
            Business Purposes;
 
 cc)        that the existing lease be terminated upon registration of transfer; and
 
dd)       that all costs related and incidental to the transaction be borne by the purchaser.
 
 
 ACTION: PETER STRUMPHER
 INFORMATION: (i) AMELIA VAN RHYN (ii) SECRETARIAT