The owner of Ronda Vista building on Mahatma Gandhi Road recently took the decision to engage the City and wrap the building.
THE City calls on owners of problem buildings to consider doing an advertising wrap around their buildings to raise funds to renovate their properties. The owner of Ronda Vista building on Mahatma Gandhi Road recently took the decision to engage the City and wrap the property.
Wrapping a building is an innovative means of raising funds as it allows the owner to offer an advertising opportunity while receiving funds that will be used for renovation and payment of outstanding Municipal bills. While the building wrap does not immediately improve the derelict building itself, it offers a better street outlook until the building is refurbished. The owner of the property engages with an advertising agency for the building wrap and signs a Memorandum of Agreement (MOA) with the City that stipulates that funds received from the advertising wrap will be used for renovations and to pay off any Municipal debt related to the property.
Other advantages of engaging the Problem Buildings Division include the fast tracking of applications and a 50 percent reduction in application fees. There is also an urban development zone incentive offered to owners wanting to refurbish their buildings. If property owners fail to engage the City or comply when notices are issued, the City has a right to institute court action, implement a rates code change which is 22 times the normal rates, and could eventually lead to expropriation.