G.F. 323
CONFIDENTIAL #B
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Paper WPHO(A) 3/77
Memorandum for the Working Party on Home Ownership
Report of the Working Group
on Joint Ventures
At its fifteenth meeting held on 27th November, after considering Paper PHO(I) 13/76, the Working Party on Home Ownership appointed the following as a Working Group "to examine the scope for joint ventures with real estate interests"
C.R. & V.
D.S.(E)2
D.S.M.A.
P.A.S.(H)
A.F.S.(SD)
Chairman
Member
Member
Member
Member & Secretary
This memorandum is the report of the Working Group.
Scope of Investigations
2.
The need to examine the scope for joint ventures is implied in paragraph 6 of the Working Party's Terms
of Reference, and amplified in paragraph 6 of Faper WPHO(I) 13/76.
ろ。
Whether the proposed mortgage scheme should be extended beyond 30,000 mortgages to include, for example, purchases of private-sector-built flats by eligible households is a matter for the Working Party to resolve. In the circumstances the scope of the Working Group's investigations can be more narrowly defined as being those issues arising from the following questions
(a) why enter into any joint ventures
with the private sector at all;
(b)
(c)
what sites have been identified for development by the private sector of the real estate industry;
can a satisfactory scheme be devised to enable the Government and the private sector to enter into joint ventures that would facilitate the promotion of home ownership?
The Case for Joint Ventures
4. As regards paragraph 3(a), data from the household expenditure surveys suggest that there may be as many as 150,000 households whose income fall within
the range the Working Party has envisaged for the
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