XN000022-1978-02-28 — Page 4

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TUESDAY, FEBRUARY 28, 1978

HE EXPLAINED THAT THE SYSTEM CARRIED AN EXCHANGE RATIO OF TWO SQUARE FEET OF DEVELOPMENT LAND FOR EACH FIVE SQUARE FEET OF PRIVATE LAND ACQUIRED.

ORIGINALLY THE TWO SQUARE FEET OF LAND REPRESENTED THE ROUGH PROPORTION OF LAND AVAILABLE FOR PRIVATE DEVELOPMENT AFTER THE PROVISION OF ROADS, DRAINAGE AND OTHER PUBLIC FACILITIES, SUCH AS SCHOOLS, POLICE STÁTIONS AND THE LIKE.

+IN OTHER WORDS, FOR A TOTAL LAND AREA OF 500 ACRES, 300 ACRES WOULD BE REQUIRED FOR PUBLIC USE AND 200 ACRES COULD BE RE-ALLOCATED TO THE PRIVATE SECTOR,+ HE SAID.

BUT HE ADDED THAT THE 5:2 RATIO OF 20 YEARS AGO HAD NOW BECOME OUTMODED BECAUSE OF THE VAST INCREASE IN THE AMOUNT OF LAND REQUIRED FOR PUBLIC HOUSING, FOR MORE SCHOOLS, POLICE STATIONS, ROADS, FLY- OVERS AND OTHER PUBLIC FACILITIES.

+WE HAVE THEREFORE BEEN FALLING BEHIND IN THE RATE AT WHICH WE HAVE BEEN ABLE TO MAKE LAND AVAILABLE TO MEET THE EXCHANGE COMMIT- MENT, TO AN EXTENT THAT THE PRIVATE SECTOR HAD BEEN DEPRIVED, ALTHOUGH NECESSARILY DEPRIVED OF LAND IT WANTED TO HAVE FOR PRIVATE COMMERCIAL, RESIDENTIAL OR INDUSTRIAL DEVELOPMENT,+ HE SAID.

ADDING THAT THE SYSTEM NEEDED AN OVERHAUL, HE POINTED OUT THAT A WORKING GROUP IS AT PRESENT ENGAGED IN SEEING WHAT ADJUSTMENTS TO IT ARE NEEDED IN THE LIGHT OF PRESENT CIRCUMSTANCES AND OUR FUTURE DEVELOPMENT PROGRAMMES.

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