162
LAND AND HOUSING
the China Motor Bus Co Ltd has 232 units for nearly 1,000 people; the Hong Kong & Kowloon Wharf & Godown Co Ltd houses over 2,000 persons; and the Hong Kong Tramway Co Ltd nearly 2,000.
Government Housing. As a large employer, Government has for several years fostered the formation of co-operative building societies amongst groups of local civil servants on the permanent establishment, by providing loans to enable them to buy land and build blocks of flats. By the end of 1960 164 co-operatives had been formed with 3,245 members, and projects involving loans of $92 million had been completed or approved. 1,486 flats have so far been built and occupied under this scheme, 390 of them during 1960. Many more flats are under construction and further schemes are being examined. Government also provides housing for many of its local, as well as for all overseas staff. A total of 27 thousand people live in Government quarters.
7
The Housing Authority. The Hong Kong Housing Authority is a statutory public body, created by Ordinance No 18 of 1954, and is charged with the duty of providing accommodation for people living in overcrowded and unsatisfactory conditions. It consists of all members of the Urban Council, ex officio, and certain other members appointed by the Governor. It functions as a business enterprise, and although rents are kept as low as possible, they must be sufficient to cover expenditure. Land is allocated at one-third of the estimated market price. Government loans are granted at favourable rates of 31% and 5% interest per annum repayable over 40 years. Loans already authorized total $156 million, of which over $72 million have so far been spent. The administration and execution of the decisions of the Authority are the duty of a Housing Division of the Urban Services Depart- ment, under the direction of the Commissioner for Housing. The salaries of the staff, who are all civil servants, are reimbursed to Government by the Authority, with a 30% surcharge to cover overheads.
In order to make the best use of sites the Authority has so far confined its building activities to multi-storey blocks of self- contained flats. By the end of 1959 two estates of 2,593 flats had been completed, providing housing for 16,600 people, at rents ranging from $75 to $169 a month. These estates also include an