“እ
6
Wednesday, April 11, 1973
COMPENSATION FOR RESUMED LAND
Changes In Zoning To Be Disregarded
**
Land owners whose land are rezoned in draft town plans will be
awarded appropriate compensation under the Crown Lands Resumption (Amendment)
Bill 1973.
This was stated by the Director of Public Works, the Hon. J.J. Robson,
when he moved the second reading of the Bill at the Legislative Council
meeting today.
The Bill amends the compensation provisions in the existing
ordinance to ensure that no land-owner suffers because his land is rezoned
in a draft town plan.
Mr. Robson said the amendment was necessary so that the Compensation
Board would disregard changes of zoning when assessing compensation resulting
from compulsory acquisition.
At present, he explained the Crown Lands Resumption Ordinance
provided that a Compensation Board in assessing compensation must take the
value of the land to be the amount which the land, if sold in the open
market, might be expected to realize.
This value would normally be based on the development obtainable
in accordance with any restrictions contained in the Crown Lease," said
Mr. Robson.
However, under the Town Planning Ordinance, if a private lot was
rezoned for a public purpose, the compensation had to be related to the
use of the lot for that purpose.
/Citing an
7
טון
No comments yet.
Private notes are available after approval.