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TUESDAY, APRIL 30, 1974.
HONG LEE COURT RECEIVES FIRST TENANT
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THE FIRST TENANT OF THE NEW HONG LEE COURT HOUSING COMPLEX FOR LOCAL GOVERNMENT OFFICERS, AT NGOK YUE SHAN IN KWUN TONG, WILL RECEIVE THE KEY TO HIS APARTMENT TOMORROW (WEDNESDAY).
HE IS MR. JOHN HO HOO-KUEN, A CLERICAL OFFICER WHO JOINED THE PUBLIC SERVICE 20 YEARS AGO, IN JULY 1954.
MR. HO IS ONE OF 431 SUCCESSFUL APPLICANTS WHO WILL FIND NEW HOMES IN HONG LEE COURT, THE LARGEST SCHEME OF ITS TYPE DEVELOPED BY THE HONG KONG GOVERNMENT FOR LOCAL OFFICERS.
COSTING $17 MILLION, THE COMPLEX IS LOCATED ON A HILLTOP IN HONG LEE ROAD. ITS TENANTS WERE SELECTED FROM ELIGIBLE SERVING OFFICERS ON THE PENSIONABLE ESTABLISHMENT IN VARIOUS GOVERNMENT DEPARTMENTS, ON A POINTS SYSTEM TAKING INTO ACCOUNT SALARY, LENGTH OF SERVICE, SIZE OF FAMILY, HOUSING CONDITIONS AND INDIVIDUAL PREFERENCES. -
THE TENANTS MAKE AN INITIAL DOWN-PAYMENT OF 20 OR 25 PER CENT OF THE TOTAL COST OF THEIR FLATS. THIS AMOUNT IS ABOUT $7,500 TO $13,000, ACCORDING TO THE TYPE OF FLAT ALLOCATED. THE BALANCE WILL BE REPAID OVER A PERIOD OF 20 YEARS, WITH INTEREST AT SEVEN PER CENT A YEAR.
A SPOKESMAN FOR THE CIVIL SERVICE BRANCH EXPLAINED THAT THE RATE OF INTEREST WOULD BE SUBJECT TO VARIATION BY THE COLONIAL TREASURER INCORPORATED, BUT WOULD REMAIN WITHIN THE SET LOWER AND UPPER LIMITS OF FIVE AND NINE PER CENT.
THE MONTHLY REPAYMENT RATE IS $232 FOR SMALL FLATS AND $298 FOR LARGE FLATS.
+IN THE PAST, THE GOVERNMENT SUBSIDISED HOUSING FOR LOCAL OFFICERS THROUGH LOANS TO CO-OPERATIVE HOUSING SOCIETIES WHICH THEY FORMED THEMSELVES, SELLING THEM THE LAND AT A THIRD OF THE PREVAILING MARKET RATE AND LEAVING THEM TO BUILD AND MANAGE THE ACCOMMODATION ACCORDING TO CERTAIN CONDITIONS OF AGREEMENT, + SAID THE SPOKESMAN.
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+ALTHOUGH THIS SCHEME CONTINUES TO OPERATE IN RESPECT OF PLANS SUBMITTED BEFORE 1962, NO FURTHER PROPOSALS HAVE BEEN APPROVED SINCE THEN, BECAUSE THE GOVERNMENT DECIDED IT SHOULD BUILD AND MANAGE ITS OWN HOUSING FOR LOCAL OFFICERS.
+THE FIRST PRODUCT OF THIS NEW APPROACH WAS THE LUNG CHEUNG COURT HOUSING SCHEME IN NEW KOWLOON, WHICH PROVIDED 296 FLATS AND WAS OCCUPIED IN 1969.
/+THE SECOND