Innercity gazette

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Bemssel College A dynamic Christian school focusing on Mathematics & Science education from Grade R to 12 2014 Registration in Progress for Grades R to 9

Tel: 011 492 1114 Cell: 073 209 8180 073 426 6685

Email: info@bemsselcollege.co.za Website: www.bemsselcollege.co.za Address: 2A Simmonds Street, Marshallstown, Johannesburg We also offer music and drama lessons in collaboration with specialists from Wits University

Est 2009 1 - 8 May 2014 Tel : 011 023-7588 / 011 402 - 1977

Fax: 086 609 8601

Inner-City Gazette

Email : info@inner-city-gazette.co.za Website : www.inner-city-gazette.co.za

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Property scheme in shambles ‘One wonders whether confining the problem to a number of BEE developers is a good decision’ Olebogeng Molatlhwa

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Part of the Vinuchi building at corner Kerk and End streets in Joburg CBD. Pic: Inner-city Press Agency

he City of Johannesburg’s Inner City Property Scheme - devised to return the CBD to its former glory - is in a shambles. Some critics have said the scheme’s fatal flaw is its insistence that black property developers be involved in it.

A report presented last week to the municipal public accounts committee stated that: the inner city is still beset by severely indebted buildings that are taken over by squatters and reduced to slums; the shortage of housing has resulted in overcrowding; infrastructure is in poor condition; and the city is unable to trace the own-

ers of dilapidated buildings. The report said residents and property owners owe the city R1.63-billion in rates. So severe are the problems that very few financiers are prepared to bankroll large-scale inner city development. So the city has had to spend vast amounts of money to fix the prob-

lem - but with little to show for it. Since 2008 the Inner City Property Scheme has asked the council for R405 million for property development projects but got only R36.3 million. There have been complaints that the BEE stipulations of the scheme have prevented progress. Contunues in Page 2


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