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FRIDAY, SEPTEMBER 27, 1985
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PUBLIC HOUSING PRIORITY TO CONTINUE *****
DESPITE THE FINANCIAL PROBLEMS OF THE PAST FOUR YEARS, THE GOVERNMENT HAS NEVERTHELESS CONTINUED TO GIVE PRIORITY TO THE PUBLIC HOUSING PROGRAMME, THE FINANCIAL SECRETARY, SIR JOHN BREMRIDGE, SAID TODAY IN OPENING THE LOK FU SHOPPING CENTRE.
SIR JOHN SAID THAT IN 1984-85 THE BILL FOR BUILDING PUBLIC HOUSING WAS ABOUT $3 BILLION, REPRESENTING ABOUT ONE-THIRD OF THE GOVERNMENT'S TOTAL CAPITÁL EXPENDITURE ON PUBLIC WORKS FOR THE YEAR.
+IT'S EASY AND INDEED TEMPTING TO SAY THAT THE HOUSING PROBLEM IN HONG KONG CAN BE SOLVED BY A SUBSTANTIAL INCREASE IN THE ANNUAL CONSTRUCTION PROGRAMME, HE SAID.
BUT, HE ADDED, THE UNCLOUDED TRUTH WAS THAT THE PUBLIC HOUSING PROGRAMME HAD TO COMPETE FOR SCARCE FUNDS TOGETHER WITH OTHER WORTHWHILE PROJECTS.
SIR JOHN SAID THERE WERE TWO MAIN REASONS FOR THE HOUSING AUTHORITY TO BUILD AND OPERATE COMMERCIAL SHOPPING CENTRES.
+FIRST, SHOPPING CENTRES ARE AN ESSENTIAL INGREDIENT FOR A BALANCED COMMUNITY AND IS THE HEART AND SOUL OF AN ESTATE. IT BREATHES LIFE TO THE ESTATE, GIVES IT CHARACTER AND VITALITY AND BECOMES A CENTRIFUGAL FORCE TO ESTATE RESIDENTS,+ HE SAID.
SECOND, HE SAID, THE HOUSING AUTHORITY'S SHOPPING CENTRES PLAYED AN IMPORTANT ROLE IN THE FINANCING OF PUBLIC HOUSING.
SIR JOHN SAID THE SOCIAL OBJECTIVE OF PUBLIC HOUSING MEANT THAT RENTS FOR DOMESTIC PREMISES IN ESTATES HAD TO BE MAINTAINED AT LOW LEVELS DESPITE INCREASING COSTS.
+THEY ARE INSUFFICIENT TO MEET RECURRENT COSTS OF HIGH STANDARD MANAGEMENT AND MAINTENANCE. DEFICITS THEREFORE ARISE ON THE DOMESTIC ACCOUNT, HE SAID.
THESE DEFICITS, HE SAID, WERE OFFSET BY THE SURPLUS FROM THE COMMERCIAL PROPERTIES AND THE SURPLUS FUNDS WERE ALSO USED TO FINANCE PART OF THE PUBLIC HOUSING PROGRAMME.
SIR JOHN SAID THE OPENING OF THE LOK FU SHOPPING CENTRE MARKED A MILESTONE IN THE REDEVELOPMENT OF MARK I AND II ESTATES THE LARGEST REDEVELOPMENT SCHEME IN THE WORLD.
THE SHOPPING CENTRE PROVIDES 382 COMMERCIAL UNITS SERVING NOT ONLY NEARBY RESIDENTS BUT, THROUGH A VERY COMPREHENSIVE TRANSPORT NETWORK, LOK FU HOPED TO SERVE AS A ONE-STOP SHOPPING, EATING AND RECREATION CENTRE FOR KOWLOON RESIDENTS.
THE CENTRE ALSO HOUSES THE HOUSING AUTHORITY'S NEW HOME OWNERSHIP CENTRE WHICH WILL PROCESS THE SALE OF ALL FLATS BUILT UNDER THE HOME OWNERSHIP AND PRIVATE SECTOR PARTICIPATION SCHEMES.
WITH THE OPENING OF THE CENTRE, THE HOUSING AUTHORITY NOW MANAGES OVER 18 000 COMMERCIAL UNITS.