Subcouncil 8

Resolution detail

It Is recommended that:
 
a)        Council resolve that, in terms of section 14 of the Local        Government Municipal Finance Management Act 56 of 2003, the subject property, being a portion of Erf 2762 Gordon’s Bay, situated between Assegaai and Rooi Els Street, Gordon’s Bay, in extent approximately 48 m² as shown lettered ABCDE on plan ET 684 - 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 2762 Gordon’s Bay, situated between Assegaai and Rooi Els Street, Gordon’s Bay, in extent approximately 48 m² as shown lettered ABCDE on plan ET 684 - annexure A;
c)        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 a portion of a public street, being a portion of Erf 2762, in extent approximately 48 m² as shown lettered ABCDE on plan ET 684 - annexure A);
 

1. The transfer of a portion of Erf 2762, in extent approximately 48 m² as shown lettered ABCDE on plan ET 684 (annexure A) to Angela Adams and Sandra Sauermann or their successor(s) in title, be approved, subject to the following conditions, that:

 

1. A purchase price of R45 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 6 months from date of valuation, i.e. from 01 October 2019 until 31 March 2021, thereafter it will escalate at 5% until date of registration;

 

3. The valuation is to be reviewed if not implemented within 36 months from date of valuation, i.e. by 31 May 2024;

 

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:

 
aa)     That all further statutory and land use requirements be complied with;
 
bb)     That the subject portion of Erf 2762 be subdivided and consolidated with the purchaser’s Erf 2922 Gordon’s Bay;
 
cc)      That all costs related and incidental to the transaction be borne by the purchaser;
 
dd)     That an occupational rental of R225/month (excluding VAT) shall be payable from 1 October 2019, escalating at 8% p.a., until 31 March 2020, where after the escalated rental will further escalate at 6% p.a. until date of registration.
 
ee)     That the sale be subject to the registration of a servitude in favour of the Council to protect underground services.