XN000022-1979-09-20 — Page 2

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THURSDAY, SEPTEMBER 20, 1979

SAI LAU KOK CLEARANCE

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FOLLOWING A TOP-LEVEL REVIEW OF THE COMPENSATION AND REHOUSING ARRANGEMENTS MADE FOR THE OWNERS OF FLATS IN THE SEVEN TENEMENT BLOCKS AT SAI LAU KOK, THE GOVERNMENT HAS DECIDED THAT IT CANNOT VARY THE BASIC TERMS OF ITS OFFER.

HOWEVER, IT HAS AGREED TO EXTEND THE +SETTING-UP+ ALLOWANCE OF $10 000 TO ALL FLAT OWNERS WHO PURCHASE A NEW FLAT AND TO INTRODUCE A NEW SETTING-UP+ ALLOWANCE OF $20 000 FOR GROUND FLOOR SHOPOWNER-LANDLORDS WHO BUY ALTERNATIVE BUSINESS PREMISES.

THE SETTING-UP ALLOWANCES ARE DESIGNED TO COVER THE COSTS OF CONVEYANCING, STAMP DUTY AND LEGAL FEES INVOLVED IN THE PURCHASE OF A NEW PROPERTY AND WERE PREVIOUSLY AVAILABLE ONLY TO DOMESTIC FLAT OWNERS WHO OPTED TO BUY A NEW FLAT RATHER THAN TAKE UP A GOVERNMENT OFFER OF PUBLIC HOUSING.

ANNOUNCING THE EXTENSION OF THE ALLOWANCES TODAY (THURSDAY), THE ACTING SECRETARY FOR THE NEW TERRITORIES, MR. JOHN TODD, SAID THE GOVERNMENT BELIEVED IT HAD GONE AS FAR AS IT COULD REASONABLY GO IN MEETING THE DEMANDS OF THE SMALL GROUP OF FLAT OWNERS - REPRESENTING NO MORE THAN 20 PER CENT OF THE TOTAL NUMBER INVOLVED WHO HAVE STILL NOT ACCEPTED THE GOVERNMENT'S COMPENSATION.

+THE VALUATION OF THE SAI LAU KOK FLATS IS TIED BY LAW TO NOVEMBER 12 LAST YEAR WHEN THE PROPERTY REVERTED TO THE CROWN AND THE 80 PER CENT OF FLAT OWNERS WHO AGREED TO THE

GOVERNMENT'S TERMS ON OR AROUND THAT DATE WERE ABLE TO DO WELL FOR THEMSELVES.

+ IT IS UNFORTUNATE FOR THE REMAINING GROUP THAT THEY HAVE SINCE BEEN CAUGHT ON A RISING PROPERTY MARKET AND ARE NOW FINDING IT MUCH MORE DIFFICULT TO OBTAIN THE SAME KIND OF ALTERNATIVE FLATS AT THE PRICES PAID BY THE MAJORITY WHO LEFT SAI LAU KOK EARLIER THIS YEAR.

+HOWEVER, THEY WERE WARNED OF THIS DANGER ALL ALONG.+

MR. TODD ALSO ANNOUNCED THAT THE GOVERNMENT WAS FIRM IN ITS INTENTION TO HAND OVER THE SAI LAU KOK SITE TO MASS TRANSIT RAILWAY CORPORATION CONTRACTORS BY THE END OF THE MONTH.

HE SAID CLEARANCE TEAMS WOULD MOVE INTO SAI LAU KOK NEXT WEDNESDAY (SEPTEMBER 26) MORNING TO ENSURE THAT THE REMAINING FOUR BLOCKS WERE VACATED IN TIME FOR THE HANDOVER TO DEMOLITION CONTRACTORS.

+THERE IS STILL TIME FOR THE REMAINING 36 OWNER-OCCUPIERS TO MAKE ARRANGEMENTS FOR PUBLIC HOUSING AND TO NEGOTIATE WITH THE MASS TRANSIT OFFICE OVER THE COMPENSATION FOR THE IR FLATS WITH A VIEW TO BUYING ALTERNATIVE ACCOMMODATION.

/+WE HAVE..........