HOUSING
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A feature of the public housing effort is the increasing proportion of flats being offered for sale below market prices to those who are eligible, according to certain income criteria. This is in keeping with economic development and the rising aspirations of the people.
Housing Authority
The Housing Authority, which evolved from a number of bodies, was established on April 1, 1973, under the Housing Ordinance.
It was re-organised in April 1988 and given a separate financial identity and autonomy, together with sufficient flexibility to deal with the priorities set by the Long Term Housing Strategy.
It advises the Governor on all housing policy matters and through its executive arm, the Housing Department, plans and builds public sector housing, either for rent or ownership, and temporary housing areas.
The authority also manages public housing estates, home ownership courts, temporary housing areas, cottage areas, transit centres, flatted factories and ancillary commercial facilities throughout the territory, and administers the Private Sector Participation Scheme and the Home Purchase Loan Scheme. It acts as the government's agent to clear land, prevent and control squatting, and implement improvements to squatter areas.
The authority is made up of members appointed by the Governor for two-year terms. It is chaired by a non-official, and comprises 20 other non-official members and four official - members. Its nine standing committees, on which sit 35 non-official committee members, deal with various aspects of housing policies such as development, building, commercial properties, establishment and finance, home ownership, management and operations, and the allocation and standards of vacant flats. Many of the members of the authority and the committees also serve the Hong Kong community as executive, legislative, urban or regional councillors, or as members of the Heung Yee Kuk, district boards, area committees, mutual aid committees and other government boards and committees. Some members are themselves residents of public housing estates.
An ad hoc committee was set up in November 1993 to conduct an overall review of the provision of housing for the elderly. Three other committees completed or were about to complete their work. The special committee on the clearance of the Kowloon Walled City, established in January 1987, is expected to end its work soon. Two other ad hoc committees completed examining the housing needs of the 'sandwich' class and the review on the policy on housing subsidy.
The authority will continue to provide homes at affordable rents and prices for the public. Under an arrangement which came into effect in April 1988, the government continues to ensure the availability of funds required for the housing programmes as set out in the Long Term Housing Strategy.
On March 31, 1993, the government's capital investment and contribution to housing stood at about $125.9 billion. This comprised permanent capital of $26.3 billion, contribution to domestic housing of $89.2 billion and non-domestic equity of $10.4 billion.
In the 1992-93 financial year, recurrent expenditure on the authority's domestic operations, covering mostly management and maintenance costs, totalled $5,383.7 million, while income from domestic operations was $5,861.6 million, generating a surplus of $477.9 million. However, after paying interest on the government's permanent capital, a deficit of $589.1 million was incurred.
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