Well organized, credible, capacitated, and resourced institutional structures, representing property owners’ interests, are fundamental to effective and sustainable precinct management efforts.
There are two institutional structure types, both of which are Non-Profit Companies:
Management Associations (MA)
MAs managed by UrbanMGT:
- Bridge City MA
- Cornubia Industrial & Business Estate MA
- Riverhorse Valley Business Estate MA
- Sibaya Coastal Precinct MA
- Sibaya Conservation Trust
- The Brickworks MA
What is a Management Association (MA)?
A MA is a registered non-profit company created to protect and advance property owners’ interests within a designated greenfield precinct. The MA board of non-remunerated directors is constituted by members who are nominated and appointed annually at the AGM. The MA is governed by its Memorandum of Incorporation (MOI) with property owner membership entrenched in the property sales agreement and title deed.
Members pay a monthly levy which fund the precinct’s management. This includes the optimisation of municipal service delivery, provision of supplementary services to ensure the precinct is safe, clean, green and well-maintained, and the provision of a communications platform for members.
Urban Improvement Precinct (UIP)
UIPs managed by UrbanMGT:
What is an Urban Improvement Precinct (UIP)?
Under the Municipal Property Rates Act of 2004, a Special Ratings Area (SRA) or UIP is a defined geographic area where the majority of property owners agree to pay a special levy for additional services supplementary to the municipality as specified in a business plan. Once approved by the municipality, all property owners within the UIP geographic boundary are legally obligated to pay a levy based on a pro rata property value which is raised monthly by the municipality and disbursed after collection to the UIP.
The UIP/SRA non-profit company board of non-remunerated directors is constituted by property owners who are nominated and appointed at the AGM.
The UIP/SRA non-profit company is governed by its Memorandum of Incorporation (MOI) and is required to submit an annual business plan and budget, and monthly financial reports to the municipality.