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LAND AND HOUSING
relation to housing. It plans, constructs and manages its own estates, which are designed for those with family incomes ranging from $400 to $900 a month. Under this programme the Authority had housed 128,300 people in 21,200 flats in seven completed estates at the end of the year. In a new estate at Pok Fu Lam on the Island and in the second phase of an existing estate at Kwun Tong on the mainland, 8,700 flats to house a further 57,800 people are to be built. The former is the largest project so far undertaken by the Authority. Covering an area of just over 24 acres the estate will house some 50,200 people in 7,400 flats at a cost of $83,000,000. Four schools, kindergartens, a town centre with 50 shops, medical and dental clinics, a post office, party rooms and other amenities are to be included.
The Authority's approved schemes will provide housing for a total of 186,180 people in 29,916 flats at a capital cost of $287 million, $230 million financed by government loans and $57 million through self-financing. At the end of 1964 the Authority has spent over $201 million and its rent roll has reached $22.5 million. Sites for the Authority's estates are provided by Government at one- third of the estimated market value, and rents are calculated on the basis of estimated working expenses and amortization of capital expenditure on buildings and land at five per cent over 40 years. On this basis the Authority is required to balance its budget.
A revised ten-year progressive building programme adopted this year, is designed to provide 53,000 flats for 326,000 people. The programme is subject to annual review and is dependent on still further government loans being made available.
Housing built by the Authority consists of multi-storey blocks of self-contained flats in large estates with provision for shops, clinics, schools and kindergartens. Playgrounds and other amenities are provided and a high standard of planning and construction is maintained. Rents for the Authority's flats range from $48 a month for a four-person flat to $139 a month for a 14-person flat. Selection of tenants is carried out on the basis of housing need, a points system being operated.
In 1962 the Authority undertook, at Government's request, to manage all the properties built under the Government Low-Cost Housing programme. Like the Authority's estates, these estates consist of multi-storey blocks of flats each containing a living-room,