The next step of the project entails collecting the required funds in order to be ready to start with the construction phase as soon as we have approval from Council.
We estimate that the cost of the construction phase of this project will amount to R6 663 952 .
This budget has been calculated using the actual unit costs of surrounding neighbourhoods who recently constructed similar infrastructure. Final costs of the project will be calculated once quotes have been obtained and contractors have been appointed.
Even though two thirds of the residents supported the initiative, the level of financial contribution is unfortunately still very low.
Only 31% of all residents have paid the 1st deposit thus far.
Even though we are hopeful that a greater percentage of residents will, over time, support the project, we deemed it prudent to calculate the cost of the construction per household, based on this lower percentage.
The 2nd deposit required is as follows:
Per house: R19,745
Per unit in complex: R4,936
Reducing the Costs
Should a greater percentage of the residents be prepared to contribute, the cost per household will be reduced commensurately.
Should the collection for this phase exceed the actual cost, the excess amount will be credited against the respective residents’ account for the monthly operation cost.
Please use your unique reference number when making these payments.
All residents will be invoiced for the full deposit amount up front and once the payments have been received in terms of the various options listed above, a corresponding credit note will be passed for the discount amount.
As has been the case with the first deposit, the second (construction) deposit will be paid into a trust account and ring-fenced for this project.
In the unlikely event that the project be abandoned at any stage, the remaining funds, after the settlement of all absolutely unavoidable obligations, will be refunded to the contributors on a pro-rata basis.
Being mindful that this is a large amount, we wish to make it as easy as possible for residents to contribute. We also wish to encourage you start making payments as soon as possible.