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WEDNESDAY, JANUARY 15, 1992
FUNDING OF NEW TOWN INFRASTRUCTURAL DEVELOPMENT EXPLAINED
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THE GOVERNMENT HAS NOT CHANGED ITS POLICY OF FINANCING INFRASTRUCTURAL DEVELOPMENT IN THE NEW TOWNS, THE SECRETARY FOR THE TREASURY, MR YEUNG KAI-YIN, SAID TODAY (WEDNESDAY) IN THE LEGISLATIVE COUNCIL.
IN A WRITTEN REPLY TO A QUESTION BY THE HON FREDERICK FUNG KIN- KEE, MR YEUNG SAID THE GOVERNMENT HAD RECENTLY PUT TO THE HOUSING AUTHORITY PROPOSALS THAT IT SHOULD UNDERTAKE A SMALL NUMBER OF
SPECIFIC, HOUSING-RELATED INFRASTRUCTURAL PROJECTS.
THIS IS BECAUSE THE AUTHORITY IS PROGRAMMING ITS HOUSING DEVELOPMENT IN THESE AREAS FOR EARLIER COMPLETION THAN GOVERNMENT IS PROGRAMMING THE NECESSARY SOCIAL INFRASTRUCTURE, HE EXPLAINED.
"BY INVITING THE HOUSING AUTHORITY TO UNDERTAKE THESE WORKS, WE ARE OFFERING IT THE OPPORTUNITY TO CO-ORDINATE ALL THE HOUSING AND HOUSING-RELATED INFRASTRUCTURAL DEVELOPMENT IN THE AREAS IN QUESTION.
'IN THIS WAY, THE HOUSING AUTHORITY WILL BE ABLE TO ENSURE THAT IT IS ABLE TO PROVIDE NOT ONLY HOUSING, BUT A PROPER COMMUNITY INFRASTRUCTURE WITHIN ITS PROGRAMMED TIMEFRAMES
SOMETHING THAT CANNOT BE ASSURED WITH
TIMEFRAMES AND AVAILABILITY OF RESOURCES.
GOVERNMENT'S CURRENT
"IT IS ENTIRELY UP TO THE AUTHORITY TO WISHES TO ACCEPT THIS INVITATION. THE AUTHORITY IS THAT, IF IT DOES SO, IT WILL BE NECESSARY TO FUND FROM ITS OWN RESOURCES, HE SAID.
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DECIDE WHETHER IT ALREADY AWARE OF THIS DEVELOPMENT
MR YEUNG ADDED THAT THE FUNDING OF THESE DEVELOPMENTS WILL NOT ADD TO THE FINANCIAL BURDEN OF PUBLIC RENTAL HOUSING TENANTS.
THESE TENANTS ENJOY HEAVILY-SUBSIDISED HOUSING, AND REGARDLESS
OF THE AUTHORITY'S DECISION, WILL CONTINUE TO DO SO.
"SIMILARLY, THE PRICES OF HOME OWNERSHIP SCHEME FLATS ARE FIXED WITH THE CRITERION OF AFFORDABILITY BEING ONE OF THE FACTORS TAKEN INTO CONSIDERATION.
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'WE DO NOT ENVISAGE ANY CHANGE IN THE METHOD OF CALCULATING AFFORDABILITY LEVELS, MR YEUNG SAID.
IF THE HOUSING AUTHORITY WERE TO BEGIN OBTAINING SURPLUSES IN EXCESS OF WHAT IT REQUIRES TO SUPPORT IMMEDIATE NEEDS AND PLANNED DEVELOPMENT WITHIN EXISTING POLICIES, THEN IT WOULD BE IN THE INTERESTS OF CO-ORDINATED DEVELOPMENT THAT THESE SURPLUSES SHOULD BE USED TO FUND SOCIAL AND ENGINEERING INFRASTRUCTURE RELATED TO. HOUSING DEVELOPMENT, HE EXPLAINED.
THE FINANCIAL SECRETARY IS EMPOWERED ΤΟ REQUIRE THESE SURPLUSES TO BE RETURNED TO GENERAL, REVENUE, BUT THE GOVERNMENT IS AS KEEN AS THE HOUSING AUTHORITY TO SEE EXCESS FUNDS USED TO ENHANCE THE PROVISION OF HOUSING-RELATED INFRASTRUCTURE WHEN IT IS APPROPRATE TO DO SO, HE ADDED.
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