Cape Town Partnership 2006 Annual Report
2006 ANNUAL REPORT
CO N T E N T S
The Cape Town Partnership at a Glance 1
Chairman’s Review 2-3 Chief Executive’s Report 4-17 Annual Financial Statements 18-34 Notice of Seventh Annual General Meeting 35 Form of Proxy 36
MISSION STATEMENT The Cape Town Central City Partnership was founded in July 1999 by the City of Cape Town, the South African Property Owners’ Association (SAPOA), the Cape Town Regional Chamber of Commerce & Industry, and other stakeholders to develop, manage and promote the Cape Town Central City as a place for all and a leading centre for commercial, retail, residential, cultural, tourism, education, entertainment and leisure activities.
VISION An inclusive, productive and diverse City Centre that retains its historic character and reflects a common identity for all the people of Cape Town.
MANDATE AND CORE FUNCTIONS The Cape Town Partnership, in partnership with the City of Cape Town, seeks to: • Broaden access to the benefits and opportunities in the Central City for all the people of Cape Town. • Consolidate the Central City as the productive heart of the Cape Town metropolitan region. • Mobilise the public and private sectors and other stakeholders around common development objectives. • Coordinate and facilitate multi-dimensional development programmes. • Guide decision-making and direct resources into solving the economic and social challenges facing the Central City. • Contribute to the overall development of the City of Cape Town. The Partnership targets members of the Cape Town public, particularly those who work, shop, visit, and reside in the Central City. The Partnership also targets visitors and tourists to the Central City, in conjunction with Cape Town Routes Unlimited (CTRU) and Cape Town Tourism (CTT). Within the private sector, the organisation specialises in working with commercial property owners, investors, developers, financiers, and managers, as well as corporate business, retailers, small businesses, and informal traders.
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CHAIRMAN’S REVIEW
This review is the seventh of the Cape Town Partnership in operation. We are proud of what we have been able to achieve, together with the City of Cape Town and other stakeholders, in regenerating Cape Town’s Central City and find its new levels of energy exhilarating. The revitalisation of the Central City is increasingly evident with many recently upgraded properties already adding their presence, and newer projects abuzz with hard-hatted contractors supervising the finishing touches. The changes already in place, and the knowledge that many more are in the pipeline, is certainly encouraging and in many ways testament to the impact made by the CCID and the Cape Town Partnership. It is clear that the message is out there that Cape Town’s Central City is a model of what public-private partnerships can achieve to turn the fortunes of a Central Business District around, and in so doing, making it a place of positive change and growth. The build-up period to the staging of the 2010 Soccer World Cup will provide opportunities to ‘up Cape Town’s game’, and the Cape Town Partnership will in the coming year be playing a key role in ensuring that the Central City is directly involved in all 2010 planning activities. After seven years of successful delivery to both the public and private sectors, the Cape Town Partnership has broadened its strategic objectives and range of activities according to the following themes:
• Access and Mobility – promoting greater access to the Central City through better public transport for all communities in Cape Town. • A Caring City – addressing the needs of the poor and the homeless in the Central City through social development programmes. • Creative Cape Town – the Central City is home to over 800 creative and cultural enterprises, and Creative Cape Town aims to use culture to build an inclusive civic identity and grow the economy. • Investment and Development Facilitation – building partnerships between investors, property developers, and statutory planning authorities. • Living in Town – promoting residential densification and more affordable housing through focused co-operation between property developers, municipal planning authorities, and social housing companies. • Quality Urban Management – maintaining high quality services for the users of Cape Town, predominantly through the mechanism of City Improvement Districts and managed kerbside parking.
HIGHLIGHTS OF THE YEAR • Church Square Phase One upgrade completed
• Completion of 18 building upgrades
• Commencement of Grand Parade urban renewal process
• 1 302 homeless adults accommodated, and 246 homeless children and youth successfully placed
• Implementation of Creative Cape Town Programme
• Commencement of the Cape Town Station Precinct Revitalisation process
• Launch of Hoerikwaggo Walking Trail • Formation of Cape Town Business Areas Network
• Distribution of a new monthly electronic newsletter – Siyahluma – to approximately 2 000 stakeholders
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Cape Town Partnership staff, Strand Street Bridge.
During the year under review, the Partnership has developed new mechanisms to give effect to its strategic objectives: • Partnerships in Action – working with the private, public, and community sectors to encourage more events and people in the Central City. • Walking Tours – raising awareness of developments in the Central City by taking interested parties on walking tours of the area to demonstrate regeneration and improvement in action. My grateful thanks go to everyone who has, and continues to contribute to the Cape Town Partnership’s success. Without your input in the form of time and energy this partnership would cease to exist. A partnership is only as strong as its partners and I am most appreciative of our solid working relationship with the officials and Councillors of the City of Cape Town and with the Western Cape Provincial Government, Intersite, the South African Rail Commuter Corporation (SARCC), and other public agencies. On a personal level, I am most grateful to our Board for their expertise, energy, unwavering dedication, encouragement, and hard work. We have met virtually every month for seven years, which demonstrates an enormous commitment. Thanks to you, today’s Cape Town Central City is a world class example of urban regeneration in progress. I would like to use this report as an opportunity to acknowledge and welcome our new City of Cape Town Mayor, Helen Zille, and to voice appreciation of the positive impact she has already made on civic affairs in the city. Mayor Zille has announced the appointment of Councillor
Anthea Serritslev and City Manager Achmat Ebrahim to represent the City of Cape Town on the board of the Cape Town Partnership; a warm welcome to both of them. A most valuable addition to the Board is Dirk Elzinga, CEO of the Cape Town International Convention Centre – ‘Feestelijk inhalen Dirk’. The private sector continues to play a key role in the work of the Partnership. Denis Skeate and Colin Boyes, both from the Cape Chamber, and who are stepping down from the Board, have provided invaluable support over the past six years. Building owners, developers, retailers, hotels, and corporate businesses are even more actively involved than ever before. Cape Town can be proud of how the public and private sectors have joined forces to make a difference. During his three-year tenure as Chief Executive, Andrew Boraine’s vision and dedication has seen the Cape Town Partnership build on years of delivery to both the public and private sectors and then widen the focus to include attending to vital socio-economic issues. My personal congratulations go to Andrew on his appointment during the year to the Board of the Development Bank of Southern Africa. Finally, to the dynamic team at the Cape Town Partnership, my sincere thanks for your dedication and commitment.
SA JOHNSON Chairman
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CHIEF EXECUTIVE’S REPORT
This is the Cape Town Partnership’s seventh annual report. The period under review is the second year since the Partnership’s activities were broadened to incorporate pressing socio-economic issues in addition to the ongoing delivery to the public and private sectors of basic urban management functions and development opportunities. The challenges facing homeless children, youth and adults have been given much attention in collaboration with other Central City stakeholders. The period under review has also seen a strategic and focused look at positioning and promoting the Cape Town Central City as a creative/cultural hub. The concept has received enthusiastic support from provincial and local government, and enjoys the participation of a broad spectrum of cultural workers.
The Partnership, together with the City of Cape Town, has also been centrally involved with conceptualising and launching the Cape Town Business Areas Network. This Network will provide a forum for knowledge-sharing and information exchange for all bodies involved with the management, promotion, and development of commercial, industrial, and mixed-use business areas across the Cape Metro Region.
Military aircraft fly over the Iziko Slave Lodge in the Central City to mark the opening of Parliament in February this year.
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STRATEGIC OBJECTIVES A CARING CITY – SOCIAL DEVELOPMENT
The Cape Town Partnership recognises the needs of the poor and homeless within the Central City and has initiated a social development programme via the City Improvement Districts, and in conjunction with various non-governmental organisations. Together with the Central CID, we are working closely with the City of Cape Town, contracted service providers, NGOs, and various other stakeholders to deal with issues such as poverty alleviation, unemployment and homelessness on the Central City’s streets. During the year under review the following successes have been achieved (statistics supplied by the CCID and The Haven Night Shelter, District Six): Number of homeless residents accommodated for the year 1 302 Number of residents who have found alternative accommodation 54 Number of residents who now have private accommodation 13 Number of residents who have been referred to other shelters 40 Number of residents referred to second phase accommodation 04 Number of residents reunited with families 81 Number of residents referred to homes for the aged 03 Number of residents referred for inpatient rehabilitation treatment 01 Number of residents on medication (administered by supervisors) 77 Identity document applications submitted and received 34 Applications submitted for disability grants 63 During the year under review, in the Cape Town Community Court - a judicial programme that channels minor offenders into life-skills training programmes - 3 782 cases were finalised with verdicts and 1 841 people were registered with the diversion programme. In total, 8 285 first appearances were registered.
Children from the Clarke Estate community on the Cape Flats participate in the ‘Let’s Educate’ school holiday programme which was hosted by the CCID’s Social Development Division.
Archbishop Desmond Tutu shares a humorous moment with senior citizens at the High Tea held on Greenmarket Square on Grandparents’ Day.
Together with City Mission and the Multi Service Centre in Salt River, the Central CID has successfully placed 246 street children and youth. Elvira Rhodes is a divorced mother of three. After enduring much hardship, and having her children taken away from her and placed into foster care because she was unable to care for them, Elvira’s life started to take a positive turn when she was referred to the District Six Haven by the Department of Health, and thereafter to the Carpenter’s Haven in Roeland Street for second phase treatment. Elvira is now permanently employed by the Central CID’s security service provider, G4S, as a Control Room Operator. Elvira now lives in Goodwood and her children have since been reunited with her. Page 5
CREATIVE CAPE TOWN The Central City is home to over 800 creative and cultural enterprises, including advertising, architecture, art and antiques, crafts, design, fashion, festivals, film and video, food, media, music and theatre, museums, performing arts, publishing, software development, TV and radio.
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The Cape Craft and Design Institute’s (CCDI’s) Centre for Innovation/Fab Lab, located in the East City, is a first for South Africa. A collaborative effort between the CCDI, the Western Cape Provincial Government, and the Advanced Manufacturing Technology Strategy of the Department of Science and Technology, the Centre provides a state-of-the-art equipped venue aimed at promoting cutting edge design, product development, and process technologies for crafters and designers in the Western Cape.
The Cape Town Partnership’s Creative Cape Town Programme is a social, economic and spatial programme, using culture towards urban regeneration in the Central City in order to build an inclusive civic identity and a vibrant economy.
For the third year in succession, the Partnership and the CCID sponsored the Community Jazz Concert on Greenmarket Square, the curtain-raiser to the Cape Town International Jazz Festival in March. Young performing artists from local communities also took to the stage for the first time as part of the event’s social development programme.
The Creative Cape Town concept has received enthusiastic endorsement from Western Cape Premier, Ebrahim Rasool, and the City of Cape Town. Provincial Government has agreed to contribute R500 000 towards a living memorialisation project in the upcoming financial year. In practical terms, the programme is being implemented in three ways: • Branding and marketing the Central City as a zone of creative and cultural activities; • Promoting and facilitating the development and provision of spaces and infrastructure, in order to provide an enabling environment for creative and cultural businesses, activities, and events; and • Establishing networking activities for people working in various creative and cultural industries. In the East City, the focus is on creating synergy between spaces and buildings such as the Grand Parade, City Hall, the Castle, Old Granary Building, Cape Craft and Design Institute Innovation Hub and D6 Museum. Church Square Upgrade Church Square is a public space of historical and cultural significance and was identified by the City of Cape Town, the Cape Town Partnership and a number of other stakeholders as an area requiring intervention. It is consequently being transformed from a run-down parking area to an active and vibrant pedestrian-friendly public space.
Church Square before and after revitalisation. Page 7
Phase One of the project has been completed. Once the second and third phases have been completed, the rejuvenated Church Square will become a creative hub and meeting place for all users of the Central City. Given its proximity to the Iziko Slave Lodge, the redevelopment process will provide an excellent potential to memorialise slave history. Phases Two and Three are due for completion in the new financial year. Community Chest Twilight Fun Run The Partnership teamed up with one of the Central City’s most popular annual events, the Community Chest Twilight Fun Run, which took to the streets on 29 November 2005. The event once again proved to be an evening of gentle exercise, fun costumes, and entertainment enjoyed by thousands of participants who brought a spirit of joy for life to the Central City, all for a good cause. Cape Town International Jazz Festival
many Capetonians and visitors the opportunity to sample some of the finest local and international acts in an open-air setting. The Partnership purchased a corporate suite at the main jazz event for the second year running which again proved to be a valuable networking opportunity. Creative Cape Town Reference Group A group of 22 individuals from diverse sectors within creative industries have agreed to serve on the Partnership’s ‘Creative Cape Town’ Reference Group. This group meets once a month to assess the programme and offer advice and guidance on specific projects. The Reference Group is used to share information about forthcoming cultural events and activities, and to debate relevant themes. Creative Cape Town Walking Tour A custom-designed walking tour of the Central City, showcasing Creative Cape Town sites, buildings and activities will be developed and launched at the Design Indaba in February 2007.
The Partnership and the CCID jointly funded the Community Concert held on Greenmarket Square on 30 March, allowing
The Community Chest Twilight Team Run is one of Cape Town’s most anticipated annual events as it brings with it an evening filled with fun, excitement and great entertainment. This year the Cape Town Partnership partnered with the Community Chest for this event, which attracted a record number of participants.
The Partnership hosted delegates to the Cape Town International Book Fair on a specialised walking tour of the Central City, designed to showcase centres of learning and knowledge and, of course, books.
The countdown to the 2010 Football World Cup has begun, an event which has obvious implications for the future growth and development of both the Central City and the city as a whole. The Cape Town Partnership is part of the City of Cape Town’s 2010 Planning Team, and is working closely with the City on many aspects of the planning for this prestigious event. Potential benefits include the upgrading of public transport infrastructure including the inner-city transport system, the Cape Town International Airport, and the Cape Town Station, improved public spaces and tourism infrastructure. The World Cup should further enhance Cape Town’s global profile, encourage long-term investment and boost tourism. 2010 will provide an opportunity to showcase Creative Cape Town to the world. There is an outstanding opportunity to design a ‘Fan Mile’ between the Central City and the stadium in Green Point as one of the main public viewing points for the World Cup.
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ACCESS AND MOBILITY The Cape Town Central City, despite its geographically ‘eccentric’ location, remains relatively accessible to the majority of communities in Cape Town, especially when compared to the rapid expansion of areas in the north east of the metropolis which are less well served by commuter rail and bus networks.
the Cape Town Station Precinct Revitalisation Steering Committee. The project is aimed at upgrading the station as a multi-nodal transport centre, improving the experience of commuters and integrating the station more closely into the Central City. A professional team has been appointed, and it is anticipated that a new Cape Town Station Development Framework will be ready by April 2007.
The Partnership works with public authorities to promote: • Improved public transport (rail, bus, taxi) • Revitalisation of the Cape Town Station • Inner city public transport • Additional public and private parking • Pedestrian mobility in the Central City, through upgrading of building facades, pavements, and pedestrian safety measures • Dedicated commuter and tourist bicycle routes • Improved public space, in particular, public squares • Improved provision and maintenance of public toilets and provision of street furniture and signage
Grand Parade Upgrade In mid-July 2005 a Heritage Impact Assessment (HIA) was commissioned as part of the Partnership and the City’s Grand Parade Revitalisation Project to review and examine legislative frameworks and policies, as well as existing planning and heritage studies affecting the Grand Parade. Its mandate included analysing primary uses and social functions of the area within the context of the broader Central City. Two public participation workshops have been organised to which interested and affected parties were invited to share their views and concerns about the Parade. Some of the main issues raised included informal trading, transport, events, and the preservation of the history and culture of the area. Safety, security, cleansing, and social development remain key issues. The City of Cape Town has initiated a three-year project to repair and regenerate the Grand Parade and has made a commitment to funding improvements over the next two budget cycles. St Andrew’s Square The City of Cape Town is currently upgrading St Andrew’s Square on Buitengracht Street, together with the South African Heritage Resources Agency (SAHRA) and the Green Point CID.
CCID Precinct One Manager, Richard Beesely, patrols the Foreshore Area on a bicycle to promote cycling in the Central City.
Construction of a Garden of Remembrance is currently underway at St Andrew’s Square on Buitengracht Street. This public open space, once completed, will memorialise human remains that were unearthed during construction in the Green Point area.
Cape Town Station Upgrade The South African Rail Commuter Corporation, Intersite, and Metrorail, together with the City of Cape Town, the Western Cape Provincial Government, the Cape Town Partnership, and the Central City Improvement District have constituted
Construction has started and the redevelopment is happening in two phases, the first of which consists of repaving and greening and the provision of street furniture. The main walkway which bisects the site will also be repaved. The upgrading process will also provide an economic opportunity for the local community through the renovation of the existing kiosk into a snack bar. The second phase will include the construction of an ossuary to house the human remains discovered in Green Point, and the development of this area into a place of remembrance. It is anticipated that the project will be completed by April 2007.
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LIVING IN TOWN
The Cape Town Partnership advocates the principle of urban balance and a more compact city, whereby most of a cross-section of activities and income groups should be found within walking distance. The Partnership supports the goal of at least doubling the Central City residential population over the next ten years, to also include the provision of affordable, well located, housing. It is estimated that there will be an additional 3 000 apartments in Town by the end of 2006, mainly through the conversion of under-utilised B- and C-grade commercial properties to residential/mixed-use. This will significantly increase the inner city’s residential population. Key residential developments that have been completed thus far include Mutual Heights, Adderley Terraces, Cartwright’s Corner, Wellington Fruit Growers, Perspectives, Namaqua House, Greenmarket Place, Greenmarket Suites, Kimberley House, Wolroy Building, Hip Hop Plaza, and No. 1 Church Square. In the past year, the Partnership has provided assistance to a number of potential developers with the identification of vacant public land and buildings within the Central City for
The Partnership and the Social Housing Company (SOHCO) showcased affordable housing concepts at this year’s Design Indaba and Design for Living Exhibitions. This picture shows an example of affordable housing near the Buffalo City (East London) CBD.
social housing. Partnerships have also been forged with social housing companies for the construction of affordable housing in the Central City. The Partnership, together with the Social Housing Company (SOHCO), participated at the Design Indaba from 24 to 26 February this year at the Cape Town International Convention Centre. The Partnership’s exhibition aimed to demonstrate the shared vision of creating a diverse Central City where a cross-section of activities and income groups can be located. The year ahead will see the re-doubling of efforts to realise this objective, and to diversify the range of housing options in the Central City to make the area more accessible.
During the 1960s and ‘70s, over 60 000 people were forcibly removed from District Six in the Central City in terms of the notorious Group Areas Act. Up to 4 000 houses will be developed in District Six as part of a land restitution process.
Regeneration of the Central City needs to bring benefits to all residents. The Kraal informal settlement in the Bo-Kaap is indicative of some of the ongoing challenges.
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Cape Town has 1 669 741m2 of A- and B-grade office stock, of which 721 121m2 (42.6%) is in the Central City. The Partnership continues to focus on attracting domestic and foreign investment into the Central City by networking with property owners, developers, brokers, investors, and bankers, as well as statutory planning authorities.
The East City has seen significant development and improvement to the urban fabric generally since the Partnership’s East City Investment Conference held in October 2004. Total investment into the area since 2003 amounts to approximately R1 020.5-million. Completed developments include, amongst others, No. 1 Church Square; the Universal Church; Old Town Square; Mutual Heights; Cartwright’s Corner; Wellington Fruit Growers; and Adderley Terraces.
PRODUCTIVE CITY Cape Town’s Central City has regained its traditional role as the productive centre of the metropolitan economy. Key growth sectors such as the finance and business services sectors have been retained, while retail, tourism, information and communications technologies (including call centres and business-process outsourcing) and creative and cultural industries (including advertising, design, film, media, publishing, visual arts, performing arts, etc.) have all expanded. In last year’s Annual Report extensive mention was given to the high level of construction and upgrading activity in the Central City. The rate of development remains high and investor confidence in Cape Town’s Central City continues to be encouraging. Some of the significant developments under way in the Central City include the commercial redevelopment of Monte Carlo, Broadway Boulevard and Hertzog Boulevard buildings into a Media City; Convention Tower, a R200-million,
The Central City offers a unique ‘more than a mall’ experience to both local shoppers and tourists. The retail experience, based on approximately 980 retail outlets, provides access to specific niche markets, including African markets, coffee shops, antique dealers, galleries, motor vehicles and homeware, as well as a superb range of restaurants.
16 storey A-grade commercial development adjacent to the Cape Town International Convention Centre; and MandelaRhodes Place (which includes an inner-city winery). The Icon development is also due for completion by year-end. Developments planned for the year ahead include: • No. 4 Church Square • No. 11 Adderley Street • Temple House • The Australasian Building • Creative House • The Grand Parade • The Cape Town Station • The Adderley/Strand Intersection, including the Woolworths and old Edgars Buildings Development Facilitation Advice The Partnership continues to provide investment trend information to potential investors, and assists with advising developers and other interested parties with information on niche industries, development opportunities, liaison with planning authorities and retail trends. Over the past year, the Partnership has dealt with over 200 inquiries.
The Central City attracts 400 200 daily inbound commuters. It has retained its traditional role as the productive centre of the metropolitan economy, by continuing to contribute 33% to the Gross Geographic Product and provide jobs in key growth sectors such as finance and business services, retail, tourism, information and communications technologies and creative and cultural industries. Page 11
Knowledge-sharing around Urban Management and Development Issues
monthly to over 2 000 stakeholders both locally and internationally.
The success achieved by the Cape Town Partnership and City Improvement Districts in Cape Town has generated much interest in South Africa and abroad. As a result, the Partnership is called upon by other cities and municipalities wishing to establish vehicles for inner city regeneration and urban management. During the year under review the Partnership hosted visits by delegations from Tshwane, Mangaung and the Nelson Mandela Metropole, and offered advice and assistance to a CID that was launched in Libreville. The CCID’s Chief Operations Officer, Derek Bock, was appointed a member of the International Task Force of the International Downtown Association, which will open up further opportunities for knowledge-sharing and information exchange.
The development of a new strategic marketing document, the Cape Town Profile, during the year under review provides a broad range of readers with statistical and economic information about Cape Town, and also gives specific information about Partnership projects and programmes. This document has been made available at all exhibitions and trade fairs during the year, is updated quarterly, and is available on the website in English, Afrikaans and isiXhosa.
The establishment by the Partnership and the City of Cape Town of the Cape Town Business Areas Network aims to link all large and small, established and emerging, business areas in greater Cape Town in an information and knowledge-sharing network, and will provide a powerful forum for interaction between those bodies concerned with urban regeneration, both regionally and nationally. Participation at SAPOA’s Annual National Property Conference
A new Knowledge Management System (KMS) was also implemented during the period, thereby enabling the more efficient management of information internally. The following databases form part of the KMS: • Investments, including commercial, residential, and hotels • Cultural industries • Affordable housing • Public buildings and spaces • Retailers • Sites of memory • Property • Public and private parking • Contacts • Safety and security
The Cape Town Central City’s revitalisation success story was showcased at the SA Property Owners’ Association’s (SAPOA) Annual Conference at the Durban Convention Centre from 17 to 19 May. The Partnership has benefited vastly from exposure at this conference over the years; it has helped position the Cape Town Central City as one of the prime regeneration nodes in the country. Increase in Number of Central City Hotels Cape Town’s Central City is rapidly re-emerging as a leading tourism destination in its own right. More and more visitors are looking beyond the traditional scenic icons and are expressing a desire to experience the culture and heritage of the people of Cape Town. Currently, at least seven new hotels have been added or are currently being developed. Examples include Urban Chic, Cape Diamond, Daddy Longlegs, and the North Wharf Protea.
The Cape Town Call Centre industry offers a wide range of services including inbound and outbound sales, inbound customer services, data cleansing, appointment setting, medical scheme assistance, technical support and emergency services. Business process outsourcing (BPO) in Cape Town is also growing strongly. The growth of the industry is a response to the favourable investment climate as well as the increasing demands of local and international markets for more cost effective services.
Accelerated and Shared Growth Strategy In May 2006, the Cape Town Partnership presented a paper on the role of the Central City in the context of the Accelerated and Shared Growth Strategy to the Provincial Development Council’s Infrastructure Committee. The paper was also presented at a meeting of the Partnership’s Business Forum. Stakeholder Communication The Partnership’s website is proving to be a valuable source of information, and the institution of internal procedures to coordinate the generation of new content to ensure that the information and layout remains dynamic is delivering positive outcomes. Our electronic newsletter – Siyahluma – was introduced during the last financial year and is distributed
After dark, the Central City takes on a vibrant nightlife energy and as the day’s suits are put away, the real fun begins. The urban regeneration of the Central City has seen a blossoming of night time leisure attractions and the Central City has an eclectic mix of restaurants, nightclubs, wine bars, cocktail lounges and music pubs.
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QUALITY URBAN MANAGEMENT The maintenance of high quality services to the users of Cape Town predominantly through management of, and strategic advice to, City Improvement Districts. Urban management services provided through a partnership between the City of Cape Town and City Improvement Districts include:
Improving the aesthetics of the Central City is an important aspect of ‘getting the basics right’. While the Partnership’s focus has broadened to strategic social, developmental, and economic issues, basic deliverables such as cleansing, security, and maintaining the urban fabric remain important areas of focus.
• Safety and security • Removal of graffiti and illegal posters • Cleansing • Management of public space • Waste removal • Building waste management • Street sweeping • Management of informal trading • Illegal dumping • Film shoot management • Recycling • Signage and public information • Noise pollution monitoring • Painting of street poles and road markings • Traffic and parking management • Street furniture upgrades and maintenance • Storm water drainage
A well-functioning kerbside parking management system ensures the provision of safe and secure parking for Central City motorists. The Partnership ensures the monitoring and management of the City’s appointed kerbside parking operators and advises the City on operational issues.
Safety and Security The CCID provides 66 foot patrol officers during the day, 6 horse units, 40 foot patrols at night, and 6 mobile patrol officers on 24-hour duty. The value of security partnerships was evident earlier this year when the private security strike placed some strain on safety in the Cape Town Central City. The Central CID responded by increasing its security presence in Town to include 10 response vehicles during the day and 8 at night, and a core team of 16 undercover officers. The South African Police Services provided additional manpower to supplement the security shortfall and the CCID conducted an intensive awareness campaign aimed at Central City users, including personal visits to key role-players to inform them that the Central CID was still providing security services. Cleansing 1 137 tons of waste was removed from the Central City by the CCID during the year under review, a 537 ton increase on last year’s volume.
Cape Town Station Deck Upgrade The City of Cape Town, the Partnership, the CCID, SAPS, Intersite, and other role-players have formed a task team to address a range of challenges on the Cape Town Station Deck, including safety and security, cleansing, the management of informal trading, and taxi rank management. Interventions by the task team are beginning to have a positive impact, but there is still much work to be done to improve conditions for the 60 000 daily taxi commuters. Kerbside Parking Available short-term public parking is key in the Central City and has been a focus of the Partnership since 2000. A new, labour-intensive system utilising hand-held meters was launched in August 2005, and the Cape Town Partnership continued to manage the system on behalf of the City Council. In May 2006 the City of Cape Town advertised a new ‘Request for Proposals’ for an updated parking management system following a lengthy legal process. An interim system was consequently put in place in the Central City, Sea Point and Claremont business areas to ensure continuity. Decisions regarding the management of the kerbside parking management system will likely be finalised in the upcoming review period.
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WALKING TOURS The Cape Town Partnership’s walking tours have proved a popular and an effective means of re-introducing Capetonians to- and familiarising visitors with Cape Town’s Central City. The main purpose of the walking tours is to raise awareness of developments in the Central City.
During the year under review, the Partnership has provided guided walks to over 1 500 individuals from a wide range of organisations. Amongst the organisations and bodies hosted on a walking tour were: • 900 tour operators from Germany • Members of the Parliamentary Housing and Arts & Culture Portfolio Committees • Property development and management companies • Delegates to the 10th African Congress of Shopping Centres • Various educational institutions • Tour operators • The City of Cape Town’s Mayoral Committee and top management team • The Cape Town Station Revitalisation Steering Committee • Participants of the Partnership’s AGM in October 2005 • Delegates to the South African Cities’ Network’s Urban Renewal Seminar • Delegates to the Cape Town International Book Fair • Staff of Wesgro and Calling the Cape • Members of the public
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PARTNERSHIPS IN ACTION The Cape Town Partnership is a collaboration between Cape Town’s private and public sectors. The following events and activities are some examples of successful partnering between us and other organisations: • Church Square revitalisation • Hoerikwaggo Trail, South African National Parks • VANSA Art Night, Visual Arts Network • Business Forum Breakfast • ICLEI World Congress • Cape Town Marathon • Cape Town International Jazz Festival Community Concert • Eurocape Investment seminar • Investment promotion visit to India with Wesgro • The white lines painting team with Straatwerk and the City of Cape Town • Partnerships on social development, homelessness, and job creation with a range of NGOs such as Men at the Side of the Road, the Big Issue, City Mission, and The Ark. • Security partnerships with SAPS, private security, and the City’s metro police to ensure that the Central City is safe and secure 24-hours a day • Community policing forums
Hundreds of Capetonians took to the streets in May in silent protest against violence in Cape Town. Among them were religious leaders, politicians, celebrities, those personally affected by violence, and concerned individuals. The event was organised by Cape Talk Radio.
EVENTS The sponsorship, development, and encouragement of new and existing events are integral to creating an environment that draws people to the Central City for leisure and business. Effective marketing enhances the appeal of the Central City, serves to promote retailers and restaurants, and assists with the creation of new business opportunities.
Switching on of Festive Season Lights at the beginning of December.
Supplementary security and cleansing is provided by the CCID for events such as the Twilight Fun Run and the Switching on of the Festive Lights. Other events in town include: • The Adderley Street Night Market • The Cape Town International Book Fair • The Fashion Festival • St Patrick’s Ball, establishing the St Patrick’s Trust • Cape Town Marathon • Cape Town International Jazz Festival • Sithengi Film Festival • Pick ‘n Pay/Argus Cycle Tour • Opening of Parliament
Central City businesses earlier this year joined the energy-saving campaign being conducted by Eskom across the Western Cape. The awareness drive by Eskom, the City of Cape Town, and the Cape Town Partnership took the form of individual visits to 75 companies, a public awareness campaign and two workshops with top property management companies and their tenants. Businesses generally responded positively to the call to save energy. Page 15
STAKEHOLDER SUPPORT Efforts to grow and sustain the Cape Town Partnership are ongoing. Contact is maintained with the organisation’s broad range of stakeholders and funders by means of an annual business breakfast, presentations on specific projects and activities, and through various Partnership communiqués. The Partnership’s stakeholders include business organisations, private sector investors, bodies involved in tourism, investment promotion, housing, transport, social welfare, hospitality, property management, and local, provincial and national government. New networks and constituencies are reflected in the expanded composition of the Partnership’s board.
Private sector support continues to take the form of financial contributions, assistance, and participation with projects and programmes. In this regard, the support and assistance the Partnership has enjoyed from members of the Business Forum has been invaluable. The Partnership’s corporate sponsors are:
Public sector support takes the form of an annual grant from the City of Cape Town, and the close involvement of many City officials and senior managers in programmes and projects.
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• AHI Western Cape • Archwood Projects • Arcus Gibb (Pty) Ltd • BP SA (Pty) Ltd • Cape Peninsula University of Technology • CBS Property Trust (Pty) Ltd • Community Chest • Edgars Consolidated Stores • Energy Africa Ltd • Ernst & Young • Eurocape Holdings • First National Bank • Gensec • Golding Commercial Properties • Green Point CID / Oranjekloof CID • Investec (Pty) Ltd • Iziko Museums • KPMG • Metropolitan Life • Nedbank Limited • Old Mutual Properties • Pam Golding Properties • Queensgate Holdings – Market Hotel Investments • Radisson Hotel, Waterfront • RMB Properties (Pty) Ltd • Securicor (SA) (WC) • Shoprite Checkers • Southern Sun • Spar Group • Spearhead Property Group • Standard Bank Asset Management • Theodore Yach Property Services • Truworths • V&A Waterfront • Woolworths (Pty) Ltd • Zenprop Management Services
The recent successful Homeless World Cup held on the Grand Parade gives us a glimpse of what a Central City 2010 ‘fan-mile’ could look like.
I would like, on behalf of the Cape Town Partnership, to thank the wide range of organisations that have participated with us in the revitalisation of Cape Town’s Central City. In particular, I wish to welcome and acknowledge Mayor Helen Zille and her new management team at the City of Cape Town. Acknowledgement too must go to the cordial working relationships we have with many marketing and development agencies in Cape Town, among these are: the Cape Town International Convention Centre, Cape Town Routes Unlimited, Cape Town Tourism, the Cape Craft and Design Institute, Iziko Museums, Table Mountain National Park, the V&A Waterfront Company, the Film Commission, the Cape Information Technology Initiative, Wesgro and Calling the Cape. The support, advice and direction I receive from my Board of Directors is sincerely valued and appreciated. My thanks go to the staff of both the Cape Town Partnership and the CIDs, as well as our partners in the private and public sectors for their hard work and continued support in the past year. It is indeed satisfying to know that we have a mix of committed people with the right skills and vision to continue making Cape Town a productive, inclusive, creative and proud city of Africa.
ANDREW BORAINE Chief Executive Patrons enjoy the bars and pubs along Upper Long Street at night. Page 17
ANNUAL FINANCIAL STATEMENTS for the year ended 30 June 2006
CO N T E N T S
Directors’ Responsibility for the Annual Financial
Statements 19 Declaration by Company Secretary 19 Independent Auditor’s Report 20 Directors’ Report 21 Income Statement 22 Balance Sheet 23 Statement of Changes in Equity 24 Cash Flow Statement 25 Notes to the Financial Statements 26 - 30 Other information not covered by the Audit Opinion: Detailed Income Statement Annexures 31 - 34
Page 18
DIRECTORS’ RESPONSIBILITY FOR THE ANNUAL FINANCIAL STATEMENTS
The directors are responsible for monitoring the
The directors believe that the company will be a going
preparation of and the integrity of the financial
concern in the year ahead. For this reason they
statements and related information included in this
continue to adopt the going concern basis in
annual report.
preparing the annual financial statements.
In order for the board to discharge its responsibilities,
The annual financial statements for the year ended 30
management has developed and continues to
June 2006 set out on pages 20 to 34 were approved by
maintain a system of internal control. The board has
the board of directors on 31 October 2006 and are
ultimate responsibility for the system of internal control
signed on its behalf by
and reviews its operation. The financial statements are prepared in accordance with South African Statements of Generally Accepted
SA Johnson
Accounting Practice, and in the manner required by
(Chairman)
the Companies Act in South Africa, and incorporate disclosure in line with the accounting philosophy of the company. They are based on appropriate accounting policies consistently applied and supported by
AM Boraine
reasonable and prudent judgements and estimates.
(Chief Executive)
DECLARATION BY COMPANY SECRETARY
In my capacity as Company Secretary, I hereby confirm, in terms of the Companies Act, 1973, that for the year ended 30 June 2006, the Company has lodged with the Registrar of Companies all such returns as are required of a company in terms of this Act and that all such
Anthony Fisher
returns are true, correct and up to date.
(Company Secretary)
Page 19
INDEPENDENT AUDITOR’S REPORT
TO THE MEMBERS OF CAPE TOWN CENTRAL CITY
In our opinion, the financial statements present fairly, in
PARTNERSHIP
all material respects, the financial position of the company at 30 June 2006 and the results of its
We have audited the annual financial statements of
operations and cash flows for the year then ended in
Cape Town Central City Partnership (Association
accordance with South African Statements of Generally
incorporated under section 21) set out on pages 21 to
Accepted Accounting Practice, and in the manner
30 for the year ended 30 June 2006. These financial
required by the Companies Act in South Africa.
statements are the responsibility of the company's directors. Our responsibility is to express an opinion on
The supplementary schedules set out on pages 31 to
these financial statements based on our audit.
34 do not form part of the annual financial statements and are presented as additional information. We have
We conducted our audit in accordance with
not audited these schedules and accordingly we do
International Standards on Auditing. Those Standards
not express an opinion on them.
require that we plan and perform the audit to obtain reasonable assurance about whether the financial
KPMG Inc.
statements are free of material misstatement. An audit
Registered Auditor
includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant
Per CA Steven-Jennings
estimates made by management, as well as
Chartered Accountant (SA)
evaluating
Registered Auditor
the
overall
financial
statement
presentation. We believe that our audit provides a
Director
reasonable basis for our opinion.
31 October 2006
Page 20
DIRECTORS’ REPORT for the year ended 30 June 2006
The directors have pleasure in presenting their report for the year ended 30 June 2006. Business activities To develop, manage and promote the Central City of Cape Town as a place for all, and a leading centre for retail, commercial, residential, cultural, tourism, education, entertainment, and leisure activities. General review of operations The business and operations of the company continued as in the prior year and we have nothing further to report thereon. The annual financial statements adequately reflect the state of affairs and the results of the business operations of the company and no further explanations are considered necessary. Share capital The company does not have share capital, but is limited by guarantee. Directors The directors who held office during the accounting period and/or to the date of this report are SA Johnson (Chairman) LO Anderson (Alternate) (Resigned 24 October 2005) CF Beerwinkel (Appointed 24 October 2005; Resigned 21 July 2006) AM Boraine CA Boyes (Alternate) IR Douglas (Alternate) (Resigned 25 November 2005) A Ebrahim (Appointed 21 July 2006) D Elzinga (Appointed 21 July 2006)
Page 21
PJ Gordon MJ Hall MY Kajee HAS Khan TM Mashologu WA Mgoqi Z Minty EA Pieterse AL Rabie JM Rippon LK Robinson KM Roman I Samuels (Alternate) AM Serritslev TR Sikhutshwa MC Sitonga DC Skeate Z Vokwana (Alternate)
(Appointed 19 August 2005; Resigned 22 December 2005)
(Resigned 21 July 2006)
(Resigned 24 October 2005) (Appointed 21 July 2006) (Appointed 24 October 2005; Resigned 21 July 2006) (Resigned 24 October 2005) (Appointed 24 October 2005; Resigned 21 July 2006)
Secretary The secretary at the date of this report is Anthony Fisher. Business address 10th Floor, The Terraces 34 Bree Street Cape Town 8001 Postal address PO Box 1997 Cape Town 8000
INCOME STATEMENT for the year ended 30 June 2006
2006
2005
R
R
Revenue
8 454 203
8 168 782
Operating expenses
(9 711 640)
(9 181 146)
Note
77 522
Other income Deficit from operations
(1 179 915)
2
110 071
Finance income
-
Finance expense Net deficit for the year
(1 069 844)
Page 22
20 602 (991 762) 204 632 (274) (787 404)
BALANCE SHEET at 30 June 2006
2006
2005
R
R
229 214
315 868
Current assets
2 641 006
3 317 891
Trade and other receivables
1 699 367
854 891
941 639
2 463 000
2 870 220
3 633 759
797 271
1 867 115
Current liabilities
2 072 949
1 766 644
Trade and other payables
2 020 025
1 462 565
Note
Assets Non-current assets Equipment
4
Cash and cash equivalents
Total assets
Reserves and liabilities Reserves Accumulated surplus
Loan from related party
5
-
32 286
Income received in advance
6
52 924
271 793
2 870 220
3 633 759
Total equity and liabilities
Page 23
STATEMENT OF CHANGES IN EQUITY for the year ended 30 June 2006
Accumulated surplus R
Balance at 1 July 2004
2 654 519
Net deficit for the year
(787 404)
Balance at 30 June 2005
1 867 115
Balance at 1 July 2005
1 867 115
Net deficit for the year
(1 069 844)
Balance at 30 June 2006
797 271
Page 24
CASH FLOW STATEMENT for the year ended 30 June 2006
Note
Cash absorbed by operations
9.1
2006
2005
R
R
(1 597 117) 110 071
Interest received
-
Interest paid Net cash (outflow)/inflow from operating activities
(1 487 046)
(90 180) 204 632 (274) 114 178
Cash flows from investing activities Acquisition of equipment (34 315)
- Additions
(245 842)
Net decrease in cash and cash equivalents
(1 521 361)
Cash and cash equivalents at beginning of year
2 463 000
2 594 664
941 639
2 463 000
Cash and cash equivalents at end of year
Page 25
(131 664)
NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 June 2006
1
Accounting policies The financial statements incorporate the principal accounting policies set out below, which are consistent with those adopted in the previous financial year.
1.1 Statement of compliance The financial statements are prepared in accordance with South African Statements of Generally Accepted Accounting Practice and the requirements of the South African Companies Act. 1.2 Equipment (i) Owned assets Items of equipment are stated at cost, less accumulated depreciation and impairment losses. (ii) Leased assets Leases in terms of which the company assumes substantially all the risks and rewards of ownership are classified as finance leases. (iii) Subsequent costs The company recognises in the carrying amount of an item of equipment the cost of replacing part of such an item when that cost is incurred if it is probable that the future economic benefits embodied with the item will flow to the company and the cost of the item can be measured reliably. All other costs are recognised in the income statement as an expense when incurred. (iv) Depreciation Depreciation is charged to the income statement on a straight line basis over the estimated useful lives of each part of an item of equipment. The residual value, if not insignificant, is reassessed annually. (v) Profit/(loss) on disposal Surpluses/(deficits) on the disposal of equipment are credited/(charged) to income. The surplus or deficit is the difference between the net disposal proceeds and the carrying amount of the asset. 1.3 Financial instruments Measurement Financial instruments are initially measured at cost, which includes transaction costs. Subsequent to initial recognition these instruments are measured as set out below. Trade and other receivables Trade and other receivables originated by the company are stated at cost less provision for doubtful debts. Financial liabilities Financial liabilities are recognised at cost, comprising original debt less payments. 1.4 Revenue Revenue comprises contributions, net invoiced membership fees, administration fees and other operating income, excluding VAT. 1.5 Provisions Provisions are recognised when the company has a present legal or constructive obligation as a result of past events, for which it is probable that an outflow of economic benefits will occur, and where a reliable estimate can be made of the amount of the obligation.
Page 26
1.6 Employee benefits Short term employee benefits The cost of all short term employee benefits is recognised during the period in which the employee renders the related service. The provisions for employee entitlements to wages, salaries, and annual leave represent the amount which the company has a present obligation to pay as a result of employees' services provided to the balance sheet date. The provisions have been calculated at undiscounted amounts based on current wage and salary rates. 1.7 Cash and cash equivalents Cash and cash equivalents comprise cash on hand, deposits held on call with banks, and investments in money market instruments, net of bank overdrafts, all of which are available for use by the company unless otherwise stated.
2.
2005 R
61 049 120 969
67 310 88 110
1 070 360
979 072
976 363 3 692 548
723 117 3 033 056
Deficit from operations is arrived at after taking into account: Audit fee - current year Depreciation of equipment Director’s emoluments - executive services Operating lease charges - premises City Improvement District administration fees received
3.
2006 R
Equipment Depreciation rate %
Cost R
Accumulated depreciation R
Carrying amount R
2006 Computer software Furniture Fittings Office equipment Computer hardware
33.33 16.67 33.33 16.67 33.33
65 884 94 116 45 408 94 192 180 628 480 228
45 833 35 484 30 732 19 181 119 784 251 014
20 051 58 632 14 676 75 011 60 844 229 214
2005 Computer software Furniture Fittings Office equipment Computer hardware
33.33 16.67 33.33 16.67 33.33
53 624 91 148 45 408 89 692 166 041 445 913
22 526 20 001 15 593 3 217 68 708 130 045
31 098 71 147 29 815 86 475 97 333 315 868
Page 27
NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 June 2006
3.
Equipment (continued)
2006 Computer software Furniture Fittings Office equipment Computer hardware
2005 Computer software Furniture Fittings Office equipment Computer hardware
4.
Carrying amount at beginning of year R
Additions R
Depreciation R
Carrying amount at end of year R
31 098 71 147 29 815 86 475 97 333 315 868
12 260 2 968 4 500 14 587 34 315
(23 307) (15 483) (15 139) (15 964) (51 076) (120 969)
20 051 58 632 14 676 75 011 60 844 229 214
4 269 68 296 16 359 10 879 58 333 158 136
45 948 16 375 25 181 78 293 80 045 245 842
(19 119) (13 524) (11 725) (2 697) (41 045) (88 110)
31 098 71 147 29 815 86 475 97 333 315 868
Taxation Provision has not been made for current or deferred taxation as the company is exempt from income tax in terms of Section 10(1)(d)(iii) of the Income Tax Act.
2006 R 5.
2005 R
Loan from related party This operating loan is unsecured, interest free and has no fixed term of repayment. Cape Town Central City Improvement District (Association incorporated under section 21)
-
Page 28
32 286
6.
2006 R
2005 R
52 924 52 924
95 213 58 604 54 792 63 184 271 793
Income received in advance The Greenpoint City Improvement District (Association incorporated under section 21) and the Oranjekloof City Improvement District (Association incorporated under section 21) are no longer under the management of the Cape Town Central City Partnership (Association incorporated under section 21) as they became independent entities during the current year. Membership fees Greenpoint City Improvement District Sea Point City Improvement District Oranjekloof City Improvement District
7.
Financial instruments
7.1 Credit risk The maximum exposure to credit risk is represented by the carrying amount of each financial asset in the balance sheet. 7.2 Fair values The fair values of all financial instruments are substantially identical to carrying amounts reflected in the balance sheet. 8.
Related parties
8.1 Identity of related parties The following City Improvement Districts are managed by the Cape Town Central City Partnership (Association incorporated under section 21), and work towards achieving the same objectives: - Cape Town Central City Improvement District (Association incorporated under section 21) - Sea Point City Improvement District (Association incorporated under section 21) The Greenpoint City Improvement District (Association incorporated under section 21) and the Oranjekloof City Improvement District (Association incorporated under section 21) are no longer under the management of the Cape Town Central City Partnership (Association incorporated under section 21) as they became independent entities during the current year. The directors as listed in the directors' report.
Page 29
NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 June 2006
8.
Related parties (continued)
8.2 Material related party transactions Director’s emoluments Administration fee received from Cape Town Central City Improvement District Administration fee received from Greenpoint City Improvement District Administration fee received from Sea Point City Improvement District Administration fee received from Oranjekloof City Improvement District Loan from related party Amounts received in advance from City Improvement Districts
- refer note 2 - refer note 2 - R231 399 (2005: R347 659) - R330 000 (2005: R308 838) -- R186 536 (2005: R261 751) - refer note 5 - refer note 6
2006 R 9.
2005 R
Note to the cash flow statement
9.1 Cash absorbed by operations Operating loss before interest Adjustment for - Depreciation of equipment Operating loss before working capital changes (Increase)/decrease in trade and other receivables Increase in trade and other payables Decrease in loan from related party Decrease in income received in advance
Page 30
(1 179 915)
(991 762)
120 969 (1 058 946) (844 476) 557 460 (32 286) (218 869) (1 597 117)
88 110 (903 652) 2 491 832 549 847 (2 228 207) (90 180)
CAPE TOWN CENTRAL CITY PARTNERSHIP
DETAILED INCOME STATEMENT NOT COVERED BY THE AUDIT OPINION for the year ended 30 June 2006
ANNEXURE A
2006
2005
R
R
Revenue
8 454 203
8 168 782
City Improvement District administration fees
4 440 483
3 951 304
Contributions
1 754 387
1 754 387
64 111
149 432
637 713
445 317
1 557 509
1 429 746
-
438 596
Other income
187 593
225 139
Interest received
110 071
204 537
77 522
20 602
8 641 796
8 393 921
Expenditure (refer to page 32)
(9 711 640)
(9 132 470)
Net deficit
(1 069 844)
(738 549)
Film income Private sector membership fees Parking income Urban Regeneration Fund
Sundry income
Page 31
CAPE TOWN CENTRAL CITY PARTNERSHIP
DETAILED INCOME STATEMENT NOT COVERED BY THE AUDIT OPINION for the year ended 30 June 2006
ANNEXURE A
(CONT)
Expenditure Accounting fees Advertising Audit fees Administration fees Bad debts Bank charges Computer expenses Courier costs Depreciation Donations to City Improvement Districts Electricity and water Entertainment Gifts Hiring costs Insurance Interest paid Legal expenses Marketing Metropolitan council - levies Office expenses Office equipment Parking Penalties and interest Printing and stationery Project costs Public relations Premises rental Repairs and maintenance Salaries and wages Subscriptions Sundry expenses Telephone and fax Training Travel and accommodation Website expenses Total expenditure
Page 32
2006 R
2005 R
49 543 61 049 3 006 465 672 9 175 34 673 4 008 120 969 47 793 19 447 3 313 12 791 15 300 372 321 58 446 7 017 28 281 259 70 921 102 400 723 903 360 086 976 363 705 5 876 580 1 905 10 780 135 627 53 640 28 448 57 219 9 711 640
33 755 108 603 87 881 36 246 347 261 12 040 18 426 7 561 88 110 1 048 33 128 33 721 2 178 18 795 5 444 274 34 697 628 236 50 234 17 531 3 257 3 979 239 638 63 374 855 430 360 000 723 117 11 692 4 885 127 7 177 46 844 221 776 11 445 114 052 20 393 9 132 470
CAMPS BAY CITY IMPROVEMENT DISTRICT
DETAILED INCOME STATEMENT NOT COVERED BY THE AUDIT OPINION for the year ended 30 June 2006
ANNEXURE B
Other Income Interest received
2006 R
2005 R
-
82
Expenses
-
(42 238)
Setup costs Bank charges
-
41 700 538
Net deficit for the year
-
(42 156)
Page 33
UPPER CITY BOWL CITY IMPROVEMENT DISTRICT
DETAILED INCOME STATEMENT NOT COVERED BY THE AUDIT OPINION for the year ended 30 June 2006
ANNEXURE C
2006 R
2005 R
Other Income Interest received
-
13
Expenses Setup costs Bank charges
-
(6 712) 6 300 412
Net deficit for the year
-
(6 699)
Page 34
NOTICE OF ANNUAL GENERAL MEETING
CAPE TOWN CENTRAL CITY PARTNERSHIP ("THE COMPANY") (AN ASSOCIATION INCORPORATED UNDER SECTION 21) REGISTRATION NUMBER 1999/009660/08 Notice is hereby given in accordance with section 179 of the Companies Act 61 of 1973 that the Annual General Meeting of the members of the Company will be held on 31 October 2006 at 09h00 in the Marco Polo Function Room at the Arabella Sheraton Hotel in Cape Town, for the following purposes: AGENDA 1. Welcome 2. Report by the Chairman 3. Election of directors The directors who have retired by rotation, namely Shaun Johnson, Annelie Rabie, Laura Robinson and Denis Skeate, are available for re-election with the exception of Denis Skeate who will not be available for re-election. Any other nominations must reach the Chairman and Company Secretary at least 48 hours before the time of the meeting. 4. To receive and consider the Annual Financial Statements for the year ended 30th June 2006, including the Directors' Report and the Auditors' Report thereon. 5. To consider the appointment and remuneration of the auditors. 6. To transact any such other business that may be transacted at an Annual General Meeting.
Any Member entitled to attend and vote at the meeting is entitled to appoint one or more proxies to attend and vote in his stead. A proxy need not also be a Member of the company. Proxy forms should be forwarded to the office of the company's secretary, 10th Floor, The Terraces, 34 Bree Street, Cape Town 8001, and marked for the attention of Mr Fisher, and such proxy forms must reach the office of the company's secretary not less than 48 hours before the time for the holding of the meeting.
COMPANY SECRETARY Anthony Fisher
Page 35
FORM OF PROXY
CAPE TOWN CENTRAL CITY PARTNERSHIP ("THE COMPANY") (AN ASSOCIATION INCORPORATED UNDER SECTION 21) REGISTRATION NUMBER 1999/009660/08 For use by members of the Company at the Annual General Meeting to be held on 31 October 2006 at 09h00.
I,
(full name of member)
being a member of the Company do hereby appoint or failing him / her or failing him / her, the Chairperson of the meeting as my proxy to act for me and on my behalf at the Annual General Meeting of the Company to be held on 31 October 2006 at 09h00, and at any adjournment thereof.
MATTER
VOTING INSTRUCTION
To elect directors
SPECIFIC INSTRUCTIONS
To adopt the annual financial statements
IN FAVOUR / AGAINST / ABSTAIN
To confirm the appointment and remuneration of the auditors
IN FAVOUR / AGAINST / ABSTAIN
Signed at
on this
day of
2006.
Member
NOTE: if this form, duly signed, is lodged without specific instructions as to how the proxy is to vote, the proxy shall be deemed to have been authorised to vote as he / she deems fit. A member entitled to attend and vote at the meeting is entitled to appoint a proxy to attend, speak and vote thereat in his / her stead. Such proxy need not be a member of the Company. Each proxy shall be lodged with the Chairperson or the Company Secretary at least 48 hours before the time for the holding of the meeting at which the vote is to be exercised.
Page 36
ACKNOWLEDGEMENTS
City of Cape Town (Bruce Sutherland) Cape Town Routes Unlimited Cape Connected Design Indaba Life Residential Minizu Cleansing Solutions Trevor Samson
Produced by Corporate Image Design and DTP by Jenny M Design Printing by Fairstep