Subcouncil resolution details

Subcouncil 24

Agenda item no

24SUB 11/1/2021

Subject

PROPOSED TRANSFER OF PORTIONS OF ERVEN 3279, 3280 AND 3037 CROYDON: KELDERHOF COUNTRY VILLAGE OWNERS’ ASSOCIATION PROPOSED CLOSURE OF PUBLIC PLACE, PORTIONS OF ERVEN 3279, 3280 AND 3037 CROYDON

Meeting date

Thursday, January 21, 2021

Resolution

Approved

Date closed

Thursday, January 28, 2021

Resolution detail

RESOLVED

Subcouncil 24 SUPPORTS the recommendation:

Council resolve that, in terms of section 14 of the Local Government Municipal Finance Management Act 56 of 2003, the subject property, being portions of erven 3279, 3280 and 3037 Croydon, situated between Station Street and Bloemfontein Road, Croydon, in extent approximately 165 721 m² as shown hatched and stippled on Plan EZ125 (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;

Council grants in-principle approval in terms of regulation 5(1)(b)(ii) of the Municipal Asset Transfer Regulations for the transfer of being portions of erven 3279, 3280 and 3037 Croydon, situated between Station Street and Bloemfontein Road, Croydon, in extent approximately 165 721 m² as shown hatched and stippled on Plan EZ125 (annexure A);

Council, in terms of section 4 of the City of Cape Town Immovable Property By-law, 2015, approve the closure of the subject property being portions of erven 3279, 3280 and 3037 Croydon, situated between Station Street and Bloemfontein Road, Croydon, in extent approximately 165 721 m² ash shown hatched and stippled on Plan EZ125 (annexure A);

The transfer of portions of erven 3279, 3280 and 3037 Croydon, situated between Station Street and Bloemfontein Road, Croydon, in extent approximately 165 721 m²as shown hatched and stippled on Plan EZ125 (annexure A) to Kelderhof Country Village Owners’ Association, or its successor(s) in title, BE APPROVED, subject to the following conditions, that:

A purchase price of R2 500 000 excluding VAT be payable;
The purchase price is to be escalated by 8% per annum compounded annually on a pro rata basis commencing 2 months after date of valuation, i.e. as from 1 January 2020 reduced to 5% per annum from 1 April 2020 on account of the coronavirus and the resultant economic fallout which has dampened growth prospects for the property market until date of registration;
The valuation is to be reviewed if not implemented within 18 months from date of valuation is to be reviewed if not implemented within 18 months from date of valuation, i.e. by 1 May 2021;
Rates and municipal charges, if applicable, be levied;
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, i.e. rezoning of public streets to private streets, the closure of public roads on the general plan and consent use relating to air and underground rights;

bb)   that service servitudes be registered over any underground municipal services traversing the subject property;

cc)    the applicant should accept that it would take ownership of    the existing water and sanitation services within the subject property and will therefore be responsible for all maintenance and repairs to the private water and sewer services;

dd)    the applicant should make application and payment for a bulk water meter to be installed on Council property on the water supply to the development;

ee)    all costs related and incidental to the transaction be borne by the purchaser.

Action: Anneke Klue