After 30 months of planning and getting the necessary approval, a large portion of the Tyger Valley commercial district will get its own City Improvement District (CID).
This special rated area or CID started out as the brain child of Quintin Rossi, one of the owners of Spear Properties and was recently approved by council. It will be known as the Tyger Valley Improvement District, or TVID, and will cover the entire area from Edward Street down past the Bellville Velodrome and up to the Tyger Waterfront, but excluding the two major shopping centres in the area, Willowbridge and Tyger Valley Shopping Centre.
Rossi says the idea of the TVID was not only to add value to properties owned by Spear, but to get rid of criminal elements that had pervaded this location and was giving it a less than savoury reputation as a problem area.
“From an investment perspective and tenant retention perspective this had to get dealt with quickly and efficiently and the only manner to deal with this in a legal manner, was to approach the City of Cape Town and start the establishment process,” Rossi says.
With the establishment of an improvement district a dedicated TVID manager will be appointed to oversee public safety officers and urban management teams, he says, in an effort to “push back against a growing problem of vagrants, crime and poor urban environment management”.
In the intervening months, Quintin and the TVID committee, set out doing their homework.
This included drawing up a detailed demarcation and business plan for their CID.
“The establishment of the TVID was in no way a one-man effort and a special mention must be made to my fellow committee members of the TVID, being Cliff Toerien from Baker Street Properties, Joan Solms from Ingenuity Property Fund, John Bielich from Ingenuity Property Fund, Louis Andrag from Leggato Investments and our CID management team, Geocentrics, led by Gene Lohrentz,” Rossi says.
He adds the implementation year budget has been set around the R2.9 million mark, which will become an additional charge levied onto the non-residential property owners’ rates and tax accounts.
A 5-year budget and business plan has been formulated to the latter effect and can be viewed on www.tvid.co.za. “Given the overwhelming support received for the establishment I can say without a doubt that the majority of commercial property owners recognise that something needs to be done in the area to safeguard the future value of their investments and to ensure Tyger Valley remains an attractive tenant destination in many years to come.“This improvement district is not solely for the benefit of Edward Street, (but) rather for the greater Tyger Valley commercial precinct,” he says.
Rossi adds the exclusion of the two major shopping centres is deliberate, as these fall under “gated complexes” and the mandate of the TVID does not extend to “gated complexes”, for example a public safety officer cannot act on this property, as in many cases these properties have contracted cleaning and security services.Geocentrics’s Lohrentz has a big task ahead of him, says Rossi, adding there would be a social responsibility element to see to on his watch“ ... The vision is to recruit, train and up-skill individuals from shelters to become urban management and urban upkeep teams in the TVID similar to what we have achieved in Salt River.”A service provider will be appointed soon, he adds.
Rossi says he and his partners hope to establish with the TVID a safer, cleaner area with less vagrancy and more jobs.“We anticipate to create at least 10 to 15 new jobs in the establishment, which in a country with such a high unemployment rate is a good start as we each take responsibility to make our country great and in turn make Tyger Valley great!“We will be held to account by the property owners within the TVID as well as the City of Cape Town in the execution of our business plan.“I would encourage tenants and property owners to contact me with any questions or queries regarding the TVID and I will be sure to put you in touch with the right person if I cannot deal with it myself,” says Rossi.
The City confirmed the TVID would become operational at the start of the next financial book year.“Yes, Council approved the establishment of the Tyger valley Improvement District (TVID) SRA at the Council meeting held on 31 March 2016 and it is effective from 1 July 2016,” said the City’s deputy mayor, Ian Neilson. The cost to run the TVID is public information and available on www.tvid.co.za.
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