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WEDNESDAY, MAY 27, 1992
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THE LAND DEVELOPMENT CORPORATION ORDINANCE DEFINES THE PURPOSES OF THE CORPORATION, AS WELL AS ITS POWERS AND OBLIGATIONS, IN DETAIL. THE BROAD GOAL IS TO IMPROVE THE STANDARD OF HOUSING AND THE ENVIRONMENT IN THE OLDER PARTS OF HONG KONG BY AND HERE I QUOTE FROM SECTION 4(A) OF THE ORDINANCE "UNDERTAKING, ENCOURAGING, PROMOTING AND FACILITATING URBAN RENEWAL". IN OTHER WORDS, THE LDC IS NOT SUPPOSED TO GO IT ALONE, BUT TO EXPLORE WAYS OF MAKING THINGS HAPPEN IN THE MARKET PLACE. THUS, FOR ITS OWN PROJECTS, IT IS EXPECTED TO ACQUIRE LAND AND BUILDINGS BY PRIVATE NEGOTIATION AS FAR AS POSSIBLE. IT'S PROPOSED DEVELOPMENT SCHEMES ARE SUBJECT TO APPROVAL INITIALLY BY THE SECRETARY FOR PLANNING, ENVIRONMENT AND LANDS AND SUBSEQUENTLY BY THE TOWN PLANNING BOARD. WHERE PRIVATE NEGOTIATIONS FAIL, THE LDC MAY APPLY ΤΟ THE GOVERNMENT FOR THE RESUMPTION OF PROPERTY. HOWEVER, SECTION 16 OF THE ORDINANCE SPECIFICALLY REQUIRES THAT A RECOMMENDATION TO THE GOVERNOR IN COUNCIL FOR RESUMPTION WILL ONLY BE MADE ON THE FULFILMENT OF A NUMBER OF CONDITIONS, NOT LEAST OF WHICH IS THAT THE "THE CORPORATION HAS TAKEN ALL REASONABLE STEPS TO OTHERWISE ACQUIRE THE LAND INCLUDING NEGOTIATING FOR THE PURCHASE THEREOF ON TERMS THAT ARE FAIR AND REASONABLE". IN ADDITION, SATISFACTORY ARRANGEMENTS FOR THE REHOUSING OF RESIDENTS WHO WILL BE DISPLACED MUST BE MADE.
ΤΟ AVOID THE POSSIBILITY OF THE LDC BECOMING DEPENDENT ON PUBLIC FUNDS, THE ORDINANCE REQUIRES THAT ITS BUSINESS BE CONDUCTED ACCORDING TO PRUDENT COMMERCIAL PRINCIPLES. SO, WHILE THE ORDINANCE SETS THE PARAMETERS WITHIN WHICH THE LDC MUST OPERATE, IT ALSO
IT ALSO ALLOWS WIDE FLEXIBILITY FOR THE CORPORATION TO RUN ITS DAY-TO-DAY ACTIVITIES ON ITS OWN AND TO HARNESS THE AMPLE RESOURCES OF THE PRIVATE SECTOR THROUGH JOINT VENTURES AND THE LIKE. OBVIOUSLY, WHILE THE LDC WILL PLOUGH ANY PROFITS BACK INTO FURTHER URBAN RENEWAL, ITS PRIVATE SECTOR PARTNERS REQUIRE SOME INCENTIVE FOR THEIR CONTINUED INVOLVEMENT. THIS SORT OF PARTNERSHIP CAN WORK IN HONG KONG IN A WAY WHICH CANNOT HAPPEN IN OTHER PLACES.
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IN ITS FIRST FOUR YEARS THE LDC HAS SOUGHT TO IMPLEMENT SEVERAL COMPREHENSIVE SCHEMES TO BRING ABOUT OVERALL IMPROVEMENTS TO THE NEIGHBOURHOODS AFFECTED. THESE SCHEMES HAVE BEEN BASED ON A SERIES OF DETAILED STUDIES ON URBAN DEVELOPMENT OPPORTUNITIES AND COMPREHENSIVE REDEVELOPMENT STUDIES, WHICH EXAMINED NOT ONLY THE PHYSICAL CONDITION OF THE BUILDINGS CONCERNED BUT THE ADEQUACY OF INFRASTRUCTURAL AND COMMUNITY FACILITIES AND THE SOCIAL CHARACTERISTICS OF THE LOCAL COMMUNITY AS WELL. THE AIM IS TO ENSURE THAT REDEVELOPMENT WILL ADDRESS THE NEEDS OF THE COMMUNITY BY IMPROVING THE FACILITIES AND THE ENVIRONMENT OF THE AREA.
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