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  INVITATION SPECIAL RATING AREA (SRA) FOR ALL CENTRAL HILL PROPERTY OWNERS

2015-10-26 08:53:30 AM

INVITATION TO ATTEND A PUBLIC MEETING TO ESTABLISH A SPECIAL RATING AREA (SRA) FOR ALL CENTRAL HILL PROPERTY OWNERS

The Mandela Bay Development Agency (MBDA), a municipal entity of the Nelson Mandela Bay Municipality (NMBM), established for the purpose of rejuvenating the Port Elizabeth Central Business District (CBD) and other emerging nodes in the Nelson Mandela Bay, hereby invites you to a SRA meeting. This is a follow up meeting that seeks to address the issue of leveraging additional revenue for certain services in Central such as security and cleansing. Such revenue collected will be managed by the body representing the property owners and such an approach is in keeping with international best practice and is successfully applied in many cities worldwide. As a starting point, it is suggested that Central Hill property owners be gathered to decide on their pilot area. As the first SRA has been successfully established in Richmond Hill in 2014, its recipe will be implemented in other areas of the NMBM.


There are many examples across the world where decayed parts of cities have been restored, not only through public investment, but also through the payment of an additional levy on property values, enabling property owners to manage such pool of funds to the benefit of their areas in respect of private sector services.

The meeting will explore the following key issues:

Why a Special Rating Area;

Benefits to property owners and residents;

Envisaged model of implementation; and

Envisaged process involved going forward.

Venue:   1st Floor Tramways Building
               Corner Lower Valley Road & South Union Street
               Port Elizabeth, 6001
                     

Date:    Wednesday, 11 November 2015

Time:    17:30

An official SRA can only be stablished with the cooperation of property owners and it is therefore important that as many property owners as possible attend this public meeting.

Although the SRA is envisaged for the area to be suggested by property owners, the invitation is extended to all residents in Nelson Mandela Bay, as it is critical that a successful SRA be established in the Central Hill area.

For further information please contact Mcebisi Ncalu at 083 508 9403 or 041 811 8208.

Your attendance and input in this regard will be appreciated.


Yours Faithfully  

Pierre Voges

CHIEF EXECUTIVE OFFICER (CEO)