Subcouncil 8

Resolution detail

                                    It is recommended that:
 

1. 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 1 and 2229 Gordon’s Bay, situated off Protea Drive, Gordon’s Bay, in extent approximately 130 m² as shown by the figure ABCD curve EFGA shown hatched on Plan 130008180 (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 portions of erven 1 and 2229 Gordon’s Bay, situated off Protea Drive, Gordon’s Bay, in extent approximately 130 m² as shown by the figure ABCD curve EFGA shown hatched on Plan 130008180 (Annexure “A”);

 

3. Council, in terms of section 4 of the City of Cape Town Immovable Property By-law, 2015, approve the closure of a portion of a public place, being a portion of erf 2229 Gordon’s Bay, as shown by the figure CD curved EF shown hatched on Plan 130008180 (Annexure “A”);

 
 

4.  The transfer of portions of erven 1 and 2229 Gordon’s Bay, situated off Protea Drive, Gordon’s Bay, in extent approximately 130 m² as shown by the figure ABCD curve EFGA shown hatched on Plan 130008180 (Annexure “A”) to Manana Trust or its successor(s) in title, be approved, subject to the following conditions, that:

 

1. A purchase price of R235 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. as from 2022-03-01) until date of registration;

 

3. Occupational rental: An amount of R1 175 per month (excluding VAT) be charged with effect from 2022-03-01, which figure shall escalate at 6% per annum until date of registration of transfer of the subject property;
4. The market value is to be reassessed if the transaction is not approved by the relevant decision making authority of Council within 36 months from date of valuation (i.e. by 2023-08-31);

 

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

 

6. 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 portions of erven 1 and 2229 Gordon’s Bay be consolidated with the purchaser’s erf 2140 Gordon’s Bay;
 
cc)       that all costs related and incidental to the                       transaction be borne by the purchaser.