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FRIDAY, JUNE 25, 1976
SCHEME TO HELP SMALL BUSINESSES AFFECTED BY MTR
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SHOPKEEPERS SERIOUSLY AFFECTED BY CONSTRUCTION OF THE MASS TRANSIT RAILWAY WILL BE OFFERED ADVANCE PAYMENTS OF COMPENSATION UNDER A SCHEME ANNOUNCED TODAY BY THE GOVERNMENT TO RELIEVE HARDSHIP.
THE DEPUTY SECRETARY FOR THE ENVIRONMENT, MR. GRAHAM BARNES, COMMENTING ON THE SCHEME, SAID THAT UNDER THE MASS TRANSIT RAILWAY (LAND RESUMPTION AND RELATED PROVISIONS) ORDINANCE, BUSINESSES AFFECTED BY STREET CLOSURES AND ALTERATIONS MAY CLAIM COMPENSATION FOR LOSSES,
+BUT IT WILL BE SOME TIME BEFORE LOSSES CAN BE QUANTIFIED AND FORMAL CLAIMS MADE TO GOVERNMENT.
+IN THE MEANTIME SOME OF THE BUSINESSES WHICH ARE ADJACENT TO THE MASS TRANS IT RAILWAY WORKS COULD SUFFER CONSIDERABLE LOSSES AS A RESULT OF THE CONSTRUCTION WHICH WILL BE TAKING PLACE IMMEDIATELY OUTSIDE THEIR PREMISES FOR A PERIOD OF THREE MONTHS OR MORE.
+ THE SCHEME IS ESSENTIALLY TO HELP THE SMALLER SHOPKEEPERS THROUGH THIS DIFFICULT PERIOD.+
INITIALLY ADVANCES MAY BE SOUGHT BY SHOPKEEPERS OPERATING IN PREMISES FRONTING STATION WORKS SITES WHICH HAVE A RATEABLE VALUE OF LESS THAN $250,000 AS SOON AS HOARDINGS ARE ERECTED ON THE PAVEMENT IMMEDIATELY IN FRONT OF THEIR PREMISES. PAYMENTS WILL CONTINUE TO BE MADE AS LONG AS THIS OBSTRUCTION REMAINS.
THE AMOUNT OF THE ADVANCE WILL BE TIED TO THE RATEABLE VALUE OF THE PREMISES OCCUPIED BY THE BUSINESS.
FOR BUSINESSES OPERATING IN PREMISES OF RATEABLE VALUES OF LESS THAN $100,000, THE MONTHLY AMOUNT OF THE ADVANCE WILL BE 7.5 PER CENT OF THE RATEABLE VALUE PAYABLE FOR AS LONG AS THE WORKS CONTINUE SERIOUSLY TO AFFECT THE PREMISES. FOR RATEABLE VALUES BETWEEN $100,000 AND $250,000, A FLAT RATE OF $7,500 PER MONTH WILL BE PAYABLE.
BUSINESSES OCCUPYING PREMISES WITH RATEABLE VALUES OF OVER $250,000 WILL NOT INITIALLY QUALIFY FOR ADVANCES, BECAUSE THEY ARE MORE LIKELY TO BE ABLE TO MAKE OTHER ARRANGEMENTS DURING THE PERIOD BETWEEN THE START OF CONSTRUCTION WORKS AND THE SETTLEMENT OF STATUTORY CLAIMS.
MR. BARNES SAID: +DETAILED EXAMINATION OF CLAIMS WOULD TAKE SOME TIME AND FOR THIS REASON THE RATEABLE VALUES OF PREMISES HAVE BEEN CHOSEN AS THE MOST SUITABLE YARDSTICK FOR ADVANCE PAYMENTS BECAUSE THESE ARE READILY AVAILABLE.+
MR. BARNES