anila
機密
CONFIDENTIAL ##
XCC(77)8
- 2
A, B
冀
(b) seeks advice on certain proposed criteria of eligibility;
(c) seeks advice on the basic methods of assisting eligible
households towards achieving home ownership;
(d) seeks advice on proposed mortgage facilities;
(e) outlines the case for an experimental joint venture
scheme; and finally
(f)
seeks acceptance of certain recommendations in respect of (b), (c), (d) and (e) above.
Requirements of the Home Ownership Scheme
4
The two basic requirements of the Home Ownership Scheme as developed by the Working Party are:
5
(a) that there should be a supply of suitable flats for sale;
and
(b) that there should be an effective demand for these flats.
As regards paragraph 4(a): the Housing Authority has accepted the Government's invitation to be its agent in designing, building and selling the 6, 000 flats comprising the first phase of the initial programme, and necessary action to build them is being taken. Accordingly:
(a) the Finance Committee of the Legislative Council has accepted the financial implications, including the financing arrangements involved in the construction of the flats and the provision of ancillary facilities;
(b)
(c)
on 5th January 1977, the Home Ownership Fund was established by Resolution of the Legislative Council. A copy of the Resolution and a copy of the Financial Secretary's speech moving it are at Annexes A and Ê;
meanwhile the five sites to be developed have been processed and valued for granting to the Housing Authority;
(d) the Housing Authority has produced a set of develop-
ment proposals, with estimates of costs, in respect of the five sites. Briefly, these proposals provide for:
C.S. 166
CONFIDENTIAL
機密