Local Authority Notice Notice In Terms Of Section 33 Of The Local Government: Municipal Finance Management Act, No. 56 Of 2003

NOTICE IS HEREBY GIVEN in terms of Section 33 of the Local Government: Municipal Finance Management Act, No. 56 of 2003 that the City of Johannesburg Metropolitan Municipality (“the Municipality”) duly represented by the City of Joburg Property Company SOC Limited (JPC) intends entering into an agreement, which will impose financial obligations on the Municipality for a period longer than the three years covered in the annual budget for the financial year 2023/2024. The contract relates to the Development of the Southern Farms into Mixed Use including Housing to an awarded bidder following an SCM processes. The project will be for a period of 50 (fifty) years for the Non-residential component whereas the residential component will be transferred to beneficiaries upon completion.