PART III — EXPLANATORY NOTES ON APPENDICES I AND II
APPENDIX I— DEVELOPMENT LOAN FUND
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Housing Loans
The Housing Authority's revolving fund allocation was increased during 1959/60 by $47.5 millions to enable that body to plan the development of a further estate at Clear Water Bay Road which will cost a total of $52.5 millions. The estate will provide 7,630 flats to accommodate 43,000 persons.
The Housing Society completed its Healthy Village Scheme during 1959/60. The Kwun Tong Scheme which will provide 1,089 flats is expected to be completed around July 1960. The Kai Tak Scheme which is a pilot scheme for accommodation of an improved resettlement type should also be completed during the summer of 1960. Site formation work has started on the Shau Kei Wan Scheme and steady progress is being made in the Tanner Hill Scheme which was originally held up pending a decision on the Town Plan for that area. The Tsuen Wan Scheme ultimately cost $230,000 more than the original estimate and a further loan of this amount has been issued. The loan of $6.5 millions allocated to the Aberdeen Scheme will enable 1,100 flats to be built at least a part of this accommodation will be of the improved resettlement type along the lines of the Kai Tak Scheme.
The Local Government Officers co-operative schemes are progressing well and a total of 58 projects comprising 1,343 flats should be completed by March 1960. Another 35 projects comprising 850 flats should be completed during 1960/61.
The loan of $10 millions to the Hong Kong Settlers Corporation will enable the Corporation to build 1,730 flats to rehouse its tenants who were previously living in cottage areas which have to be cleared for more intensive development of the land and to provide low cost housing generally.
Educational Loans
These loans are granted to incorporated non-profit making bodies for the construction of schools. The loan plus any Government subsidy must not exceed 80% of the total cost of a school project.
Miscellaneous
The Shek Wu Hui Building Loans and the loans to the Kowloon-Canton Railway Athletic and Social Club, and to the Good Shepherd Sisters were previously provided out of revenue. These loans together with all school loans similarly provided were transferred to the Development Loan Fund in 1959/60.
Reclamations
Reclamation work on the Kwun Tong Reclamation Stages I & II should be completed by March 1960, and the total charges on the project finalised during 1960/61.
Fisheries Loans
Loans can now be made available to owners of suitable mid and distant waters fishing junks for the purpose of mechanization or improvement, or for the purchase and installation of navigational and fishing aids.
APPENDIX II — PUBLIC WORKS PROGRAMME
The Appendix to the Report of the Public Works Subcommittee of Finance Committee is reproduced with the addition of items subsequently approved.