598
10.
The premium proposed varies from 80 cent to $5 per square foot according to the loencity. A building site situated on one of the princiful
beving
available for a shop manding a higher value than one
streets.
schrated on a
only available
coolie or
11.
Cerr
less important street and
For
the erection of a
A
ordinary dwelling house .
On the whole I am of opi- nion that a sum of not less than
$ 414,840 should be realised from
the sale
available.
of
the whole
of
the area.
for building, which, added
to the Crown rents capitalised at 5%
gives $666,640 wo
against
per
annuw
a total estimated expenditure of $956,000.
In some cases the higher
12.
rates
may
not be realised whilst
on the other hand the lower rates.
may
be advanced under the auchoncer's
hammer. Experience
ence cava
may
to what extent this
only
decide
be the case.
13.
13.
Though frous a financial
point of view this cannot be con-
sidered a
Cav
very satisfactory result, it hardly be effected the resumption
of this property, at a thine when pents had been increased by overcrowding and the annual expenditure
up keep reduced to a
a total dis,
dis regard
on its
minimum by
to sanitation, would
prove a financial
financial success.
This result must have been the more evident in the absence of
any special provision in the Resumption Ordinance protecting the Government
from the payment of compensation the resets received under.
baved
upon
such conditions.
14.
However supposing
that $414,840
is realised from the sule of this property, the Crown rents will pay approximately 22% the balance of the actionated
expenditure, and, the Sanitary impro-" verents effected in the district will
be
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