PART I (CONT'D)
CONFIDENTIAL #Z
Subject
Purpose
1.
(Cont'd .....)
2. Home Ownership
Scheme
30 Private Sector
Participation Scheme
To provide housing for purchase by families with household incomes. below $6,500 p.m.
(g)
Progress Made & Present Position
provision of guidelines for the determination of redevelopment applications;
(h) exclusion from all controls of tenancies for a fixed term of 5-years or more at a constant Lorrent.
Following adoption of revised pricing arrangements, (a) whereby land value is excluded from flat prices, legislation has been drafted, mainly to -
(a) give effect to more stringent resale
restrictions;
(b)
increase penalties for making false statements in applying for flats and for breach of resale restrictions;
!
(c) provide for improved control over
occupation of HOS flats.
The legislation will apply equally to flats developed under the Private Sector Participation Scheme and the Middle Income Housing Programme.
To provide housing for purchase by. families with household incomes
(a)
below $6,500 p.m.
(b)
Consideration has been given to viability of the schemes without the inclusion of land value in the flat selling price.
Sites tentatively identified for the production of at least 5,000 PSPS p.a. from 1985/86 onwards.
Next Quarter's Target
To introduce the Housing (Amendment) Bill 1982 into LegCo;
to market the first 1,548 flats to be sold under the revised arrangements
To present proposals
for the revised PSPS flat pricing arrangements to ExCo.
CONFIDENTIAL
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