SEEDEP Housing Company is operational under the eThekwini Municipality and are intending to sign an agreement (MoU and SLA) in the month of October 2017 as per our partial accreditation with SHRA:
Impact of under allocation
The impact of under allocation results in the following:
- Facilities management will not be effectively implemented resulting in dilapidated Ethekwini Municipality Council – owned property & neglected buildings
- Progress in Site development and site preparation will decline resulting in lack of realisation of the value of land;
- Job creation will be negatively impacted and
- Negative impact on infrastructure development and thus reducing the value of the Prospects rate base.
Some of SEEDEP PTY LTD’s projects are unfunded and unallocated by the eThekwini Municipality and they will usually roll over. The estimated magnitude and the size of the projects means that the timeframe to completion is between 3 and 5 years before a completed development can realise a value. Over the months, SEEDEP PTY LTD has attracted less than R50 000.00 worth of investments but in order to realise the economic value of these investments it is critical to bed afforded the accreditation by the SHRA so as to proceed with and finalizing the procurement of them, as they will also impact on job creation, infrastructure development and improved rates base.