1.(a) & (b) Members of GAPIPA/OWIPA are part of the tenants of the Industrial Parks. All GAPIPA tenants lease agreements expired more than 5 years ago and there has been resistance to renew and enter into new lease agreements. As a result, SEFA is currently only collecting on average only 20% of rentals from GAPIPA tenanted properties.
At a meeting with SEFA management, GAPIPA agreed to enter into lease agreement subject to the agreement by SEFA management to sell and transfer the properties to tenants.
In an attempt to resolve the dispute, the board of SEFA approved a framework to sell the properties to the tenants at fair value with an option for SEFA to fund the sale transactions using an Instalment Sales Agreement. However, the tenants refused the offer to buy the properties at fair value and demanded a free transfer.
2. No budget has been set aside and budgeted and no service providers have been appointed. It is one of the considerations being made provided the budget allows and that GAPIPA/OWIPA Executives agree to this proposed intervention including the terms of the proposed sale.
3. Due to Landlord and tenant confidentiality agreements, SEFA is not in a position to provide the requested information. SEFA recommends that Honorable Mr Chance to engage directly with the tenants for such information.