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WEDNESDAY, NOVEMBER 13, 1974.
+NONETHELESS, THE TIME IS PROBABLY RIPE FOR THE IDEA TO BE RECONSIDERED BY THE HOUSING AUTHORITY AND I WILL ARRANGE FOR THIS TO BE DONE,+ MR. LIGHTBODY SAID.
ON THE DIFFICULTIES OF SECURING THE REDEVELOPMENT OF SLUM PROPERTIES, THE SECRETARY FOR HOUSING SAID THE GOVERNMENT HAD GIVEN THE HOUSING SOCIETY AN UNDERTAKING TO USE ITS RESUMPTION POWERS WHERE NECESSARY TO ALLOW THE SOCIETY TO OBTAIN SLUM PROPERTIES AND REBUILD THEM,
THE GOVERNMENT HAS AGREED TO PROVIDE THE SOCIETY WITH LOANS OF UP TO $100 MILLION TO FINANCE THIS PROJECT WHICH WILL GENERATE SUFFICIENT FUNDS AFTER FIVE YEARS OR SO TO LET THE SOCIETY FINANCE FUTURE PROJECTS BY ITSELF.
MR. LIGHTBODY SAID THE SOCIETY HAD IDENTIFIED LARGE NUMBERS OF PRE-WAR URBAN DOMESTIC PROPERTIES WHICH WERE RUN-DOWN, UNSANITARY AND OVERCROWDED. SEVENTY-FIVE PER CENT OF THEM WERE ON HONG KONG ISLAND, MOSTLY IN THE WESTERN AND WANCHAI DISTRICTS, AND THE SOCIETY HAD DECIDED TO START THE SCHEME IN THESE AREAS.
IN FACT IT HAS LET ITS FIRST CONTRACT FOR A BLOCK OF ALMOST 200 FLATS IN WESTERN DISTRICT TO REHOUSE FAMILIES FROM NEARBY +BLACK SPOTS+ WHICH THE SOCIETY INTENDS TO ACQUIRE FOR REDEVELOPMENT.
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