Subcouncil resolution details

Subcouncil 17

Agenda item no

17SUB 8/4/2021

Subject

PROPOSED TRANSFER OF CITY-OWNED IMMOVABLE PROPERTY: A PORTION OF ERF 38044 CAPE TOWN: ACHMAT NAZLEEN

Meeting date

Thursday, April 22, 2021

Resolution

Approved

Date closed

Tuesday, May 04, 2021

Resolution detail

RESOLVED that:

It is recommended that:

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 38044 Cape Town situated on Corner of Buckley Road and Matlock Street, Cape Town, shown hatched and lettered ABCD, on the attached Plan STC 3382 (Annexure “A”) is not required 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 a portion of Erf 38044 Cape Town situated on Corner of Buckley Road and Matlock Street, Cape Town, shown hatched and lettered ABCD, on the attached Plan STC

3382 as (Annexure “A”);

The transfer of a portion of Erf 38044 Cape Town situated on Corner of Buckley Road and Matlock Street, Cape Town, shown hatched and lettered ABCD, on the attached Plan STC 3382 (Annexure “A”) to Nazleen Achmat, or her successor(s) in title, be approved subject to the following conditions, that:

A purchase price of R415 000. excluding VAT be payable;

ii)   The purchase price is to be escalated by 5% per annum from
      31 March 2020 until date of registration.

iii) The market value is to be reassessed if the transaction is not approved by
      the relevant delegated authority within 24 months from date of valuation, i.e.
      by 31/03/2023;

iv) 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 the subject portion of Erf 38044 Cape Town be consolidated with
       the purchasers’ Erf 38045 Cape Town;

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

Action: Lemeeze Van Heerden