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WEDNESDAY, FEBRUARY 25, 1976
HE ALSO NOTED THAT THE PUBLIC WORKS DEPARTMENT WOULD CONTINUE CONSTRUCTION WORK ON THE 20 ESTATES ON WHICH PLANNING HAD ALREADY STARTED WHEN THE NEW HOUSING AUTHORITY WAS FORMED.
+THE DRAFT ESTIMATES FOR 1976-77 ENVISAGE SOME $170 MILLION BEING SPENT BY THE PUBLIC WORKS DEPARTMENT ON THESE ESTATES,+ HE SAID.
THEY COMPRISE 11 ESTATES IN THE URBAN AREA, NINE IN THE NEW TOWNS OF TSUEN WAN, SHATIN AND TUEN MUN.
ON TOP OF THIS, AN ADDITIONAL $25 MILLION WILL BE SPENT ON MAKING GOOD DEFICIENCIES IN COMMUNITY FACILITIES IN TSUEN WAN.
ON THE QUESTION OF RENTS IN PUBLIC HOUSING ESTATES, THE FINANCIAL SECRETARY SAID; THE HOUSING AUTHORITY HAS A STATUTORY RESPONSIBILITY TO PAY ITS WAY, WHICH MEANS THAT ITS INCOME FROM RENTS SHOULD BE ADEQUATE TO MEET OPERATING EXPENSES AND MANAGEMENT COST, TO MEET INTEREST PAYMENTS ON LOANS REQUIRED TO FINANCE ITS BUILDING PROGRAMME, AND TO MEET AMORTISATION CHARGES ON ITS LANDS AND BUILDINGS.+
PAY.+
+YET, THEY SHOULD BE WITHIN THE ABILITY OF MOST TENANTS TO
HOWEVER, HE SAID, BECAUSE OF RISING COSTS, THE HOUSING AUTHORITY WOULD FACE INCREASING DIFFICULTIES IN DETERMINING RENTS WHICH RECONCILE BOTH THE NEED TO COVER COSTS AND THE MEANS OF ITS TENANTS.
+ IN THIS CONNECTION, IT IS INCUMBENT ON THE HOUSING AUTHORITY TO REVIEW ALL INPUT COSTS FOR PUBLIC HOUSING ACCOMMODATION TO ENSURE THAT THE RENTS DERIVED FROM THEM DO NOT BECOME UNREALISTICALLY HIGH IN COMPARISON WITH WHAT ITS TENANTS CAN AFFORD.+
+ON THE OTHER HAND, I KNOW THE HOUSING AUTHORITY HAS VERY MUCH IN MIND THE RELATED PROBLEM OF ENSURING THAT RENTS DO NOT LAG FAR BEHIND COST INCREASES,+ THE FINANCIAL SECRETARY SAID.
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