2
The most important task of the Land Development Corporation
is to undertake independent investments or to co-operate with private
developments so as to bring forward urban retdevelopment.
with gard to the
From the contents of the Bill, there are three main points
nothing?
worth of note. Firstly, the main procedures for urban re-development redevelopment
ing
and they include : Designated rejdevelopment areas by the Land
Development Corporation.
When necessary the plans for refdevelopment
should be handed over to the Town Planning Board for vetting.
are approved
Once these plans and drafts had been endorsed, they will be gazetted.
The Relevant parties and members of the public have the right
under the law to object, and before allowing resumption of land
by invoking the Crown Lands Resumption Ordinance, the Executive
will
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Council all to consider the plan itself and the pros and cons
for this particular plan fully.
of
zai
Secondly, the Bill ensures that in any refdevelopment
area, the owners and the tenants will be treated fairly. Where the
The procedure for resumption of privace property initutes.
resumption of private property is concerned, the processes include:
(
(3)
(3)
årafted, (xp/17
Firstly, when a plan for rejdevelopment has been drafted,
the Land Development Corporation should, within a period of twelve 12
months, suggest a formula and a package for the purchasing of all
private property affected.
(i)
Secondly before the Crown Lands Resumption Ordinance is
used, the Government must be satisfied that the LDC has already
proposed a purchasing packet with a price which is fair and
reasonable.
an independent professional
And whenever necessary a private provisional assessor
should be appointed to make suggestions.
cap..
/Thirdly