Subcouncil 15

Resolution detail

It was RESOLVED that Subcouncil 15 RECOMMEND that
 

1. Council resolve that, in terms of section 14 of the Local Government: Municipal Finance Management Act, Act 56 of 2003, the subject property being a portion of Remainder Erf 1115 Pinelands, situated at Achilles Way, Pinelands, in extent approximately 34 m², shown by the hatched figure lettered ABC, on the Plan 130008476 attached as Annexure “A” to the report, 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;

2. 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 1115 Pinelands, situated at Achilles Way, Pinelands, in extent approximately 34 m², shown by the hatched figure lettered ABC, on the Plan 130008476 attached as Annexure B to the report,

3. 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 Remainder Erf 1115 Pinelands, situated at Achilles Way, Pinelands, in extent approximately 34 m², shown by the hatched figure lettered ABC, on the Plan 130008476 attached as annexure A to the report

4. The transfer of a portion of Remainder Erf 1115 Pinelands, situated at Achilles Way, Pinelands, in extent approximately 34 m², shown by the hatched figure lettered ABC, on the Plan 130008476, attached to the report as annexure A, to Richard Leslie Llewellyn , or his successor(s) in title, be approved, subject to the following conditions, that:

1. A purchase price of R60 000 excluding VAT be payable;
2. The purchase price is to escalate at 5% per annum compounded annually on a pro-rata basis commencing 6 months from date of valuation, i.e. from 1 October 2022 until date of registration;
3. That the market value be reassessed if the transaction is not approved within 36 months from date of valuation, i.e. 31 March 2025;
4. Occupational rental of R300 per month shall be payable commencing 1 October 2022 escalating at 6% per annum, until date of registration.
5. Subject to such further conditions to be imposed by the Director: Property Management in terms of his delegated authority, inter alia the following: