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MW. CHENG..
Sir,
DRAFT SPEECH BY HON CHENG HON KWAN, Je LEGISLATIVE COUNCIL 9 DECEMBER 1987
Band Development Corporation Bill 1987
Attempts have been made by Government to undertake urban renewal during the past 25 years but without much success. Tremendous difficulties have been experienced either in resumption of properties or in rehousing a large number of occupants without proper legal backing for its implementation.
The concept of the Land Development Corporation (LDC) as an independent statutory body was seriously considered by the Special Committee on Land Supply which amalgamated with the Land and Building Advisory Committee in June 1985. Since then, a $teering group, of which I was a member, had been set up to consider the financial, legislative and operational requirements of the Land Development Corporation with a view to its establishment. Particular regards have been had to matters relating to resumption of land, compensation to owners and rehousing for occupiers.
Sir, I am pleased that the Land Development Corporation Bill is now presented to this Council after a long period of drafting, consultation and indeed careful examination by Members of this Council. It is essential that after enactment of the Bill the Corporation may be formally established to undertake its tasks as soon as possible.
It is important that the established Land Development Corporation be given sufficient flexibility to deal with rehousing arrangements which must satisfactorily look after the interests of the original occupiers. I would strongly endorse the principle that initially sites should be made available to the LDC at concessionary premium for the sole purposes of constructing 'decantation accommodation, provided that these sites are not
subsequently disposed of as an asset. In the early stage, such
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