Subcouncil resolution details

Subcouncil 6

Agenda item no

06SUB 30/8/2022

Subject

PROPOSED CLOSURE AND TRANSFER OF A PORTION OF REMAINDER ERF 64 LOUMAR TO OWNER OF ADJACENT ERF 72 LOUMAR: MAHENKA PROPERTIES (PTY) LTD

Meeting date

Monday, August 22, 2022

Resolution

Recommend

Date closed

Friday, September 02, 2022

Resolution detail

Subcouncil 6 SUPPORTED and NOTED the report and recommended to the Council 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 Remainder Erf 64 Loumar, situated off Keast Street in
extent approximately 25 m² as shown hatched and lettered ABC on plan
130009042v1 attached as Annexure A to the report, 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
Remainder Erf 64 Loumar, situated off Keast Street in extent approximately
25 m² as shown hatched and lettered ABC on plan 130009042v1, attached
as Annexure A to the report;

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 road, being a portion of Remainder Erf 64 Loumar, in extent
approximately 25 m² as shown hatched and lettered ABC on plan
130009042v1 (Annexure “A”) to the report;

d) The transfer of a portion of Remainder Erf 64 Loumar, in extent
approximately 25 m² as shown hatched and lettered ABC on plan
130009042v1, attached as Annexure A to the report, to Mahenka Properties (Pty) Ltd, or their successor(s) in title, be approved, subject to the following conditions,
that:

A purchase price of R55 000 excluding VAT be payable;

ii) The purchase price is to be escalated by 5% per annum compounded
annually on a pro-rata basis, commencing 6 months after date of
valuation, i.e. from 1 August 2022, until date of registration;

iii) The valuation is to be reviewed if not implemented within 36 months
from date of valuation, i.e. by 31 January 2025;

iv) Rates and municipal charges, if applicable, be levied;

v) 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 Remainder Erf 64 Loumar be
consolidated with the purchaser’s Erf 72 Loumar; and

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

.

FOR ATTENTION: PIETER STRUMPHER