Reporting requirements 

There are two different sets of requirements, those for developers and those for Municipalities.

Developers

In addition to the UDZ3 certificate, any developer that erects, extends, adds to or improves a building within an UDZ of which the estimated cost of the erection, extension, addition or improvement is likely to exceed R5 million must –
 
  • inform the Commissioner within 30 days after the commencement of that erection, addition or improvement of the estimated costs of the erection, extension, addition or improvements to the building or part(s) of the building which the developer intends to sell and the estimated selling price of the building or those parts; and
  • inform the Commissioner within 30 days after the sale of the building or all anticipated sales of any parts of the building have been concluded of the actual costs incurred on that building or parts of that building and the actual selling price of that building or parts of the building.

Municipalities

The following information has to be provided annually by the municipalities to the Minister
 
  • Reporting requirements for buildings in UDZs:
    • On certificates confirming that a building is located within a demarcated UDZ –
      • the name of every person to which the municipality issued such a certificate;
      • the total number of certificates issued to taxpayers by the respective municipality; and
    • the extent to which a building for which a certificate was issued is used for commercial purposes, residential purposes, low-cost residential units or industrial purposes.
    • On building plans to erect, extend, add to or improve a building or part of a building in each UDZ within a municipality –
      • the number of building plans approved; and
      • the estimated total cost of the erections, extensions, additions or improvements for which such plans were approved.

  • Reporting requirements for the regeneration of UDZs:
    • Every municipality must report on the significant fiscal measures that have been implemented by the municipality to support regeneration of each UDZ with such municipality, including –
      • the appropriation of significant funds for developing the area in the annual budget of the municipality;
      • any other fiscal measures for such development; and
      • any non-monetary measures implemented in order to stimulate the regeneration of each zone within the municipality.

  • This information must be provided for each financial year of a municipality ending –
    • on or before 30 June, or by 28 September of that particular financial year, in other words, within three months after the end of such financial year.
Last Updated: 18/02/2015 2:54 PM     print this page
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