For discussion
on 29th July 1975
XCC(75)45
Extract from Memorandum XCC(75)45
Application by the Mass Transit Railway Provisional
Authority on Behalf of the Future Mass Transit Railway Corporation for Grant of Certain Station
and Other Sites for Comprehensive Development
Principles to be adopted in respect of land grants to the future Mass Transit Railway
6.
The principles proposed for grants of land, and interests in land, to the future Mass Transit Railway Corcoration are set out in Annex 3. In general, they follow principles applicable to grants to a private profit making utility undertaking, but take account of the needs for the Corporation to acquire special interests in land, such as wayleaves, individual shanes in buildings, etc and the need to maximise the revenue on sites required for Mass Transit purposes. The attention of Honourable Members is specifically invited to the following points:
7.
(a)
the grant of comprehensive development rights on land affected by railway installations will le discretionary (paragraph 1);
(b)
(c)
(a)
the conditions of lease will be formulated in accordance with normal planning principles (paragraph 2);
valuations for premium will be generally based on the revenue lost to Government by reason of granting the land, or interests in it, to the Corporation or the cost to Goverment of making the site, or these interests, available to the Corporation, whicheven is the higher (paragraph 3);
and
valuations will be made us at the date of the grant (Note 2).
In other respects the mints ill be subject to normal principles, and the facility of payin premis by instalments at the appropriate re of interest will also be made available to the Corporation. It may also be found desirable that the hole on pret of the premia, for one or two of the sites, should be paid in the form of city in the Mass Transit hafivey Corporation,
8.
In the early stages 14 my be hie02:
went all land to
be used by the railway on short ten tenories renting the preparatio. e detailed c ́nlitions of grant.
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