XN000022-1986-03-26 — Page 45

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WEDNESDAY, MARCH 26, 1986

THE GOVERNMENT'S CONTRIBUTION WILL BE LIMITED TO PAYING FOR COMMUNITY FACILITIES NEEDED IN THE PROJECTS.

+TO ESTABLISH THE LDC ON A SOUND FINANCIAL BASIS IT WILL BE NECESSARY INITIALLY FOR THE LDC TO UNDERTAKE PROJECTS WHICH ARE POTENTIALLY PROFITABLE. HOWEVER, IN THE LONGER TERM, PROFITS MADE BY THE LDC WILL BE USED TO FUND PROJECTS WHICH WERE NON-PROFITABLE BUT DESIRABLE IN TERMS OF URBAN REDEVELOPMENT,+ MR TODD SAID.

STATUTORY BODIES SUCH AS THE LDC ARE NOT A NEW CONCEPT IN HONG KONG. TWO VERY SUCCESSFUL RECENT EXAMPLES ARE THE MASS TRANSIT RAILWAY CORPORATION AND THE KOWLOON-CANTON RAILWAY CORPORATION WHICH OPERATE ON A PURELY BUSINESS BASIS.

THE LDC WILL BE SIMILAR IN STRUCTURE TO THESE WITH A NON- GOVERNMENT CHAIRMAN AND A MAJORITY OF NON-GOVERNMENT OFFICIALS ON THE BOARD.

ONCE SET UP IT IS HOPED THAT THE LDC CAN MAKE AN EARLY START DEFINING THOSE AREAS WHERE DEVELOPMENT WILL BE A TOP PRIORITY.

LANDS AND WORKS GROUP RE-ORGANISATION APPROVED

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THE FINANCE COMMITTEE THIS (WEDNESDAY) EVENING

APPROVED THE RE-ORGANISATION OF THE LANDS AND WORKS GROUP OF DEPARTMENTS WHICH WILL TAKE EFFECT SOMETIME IN APRIL.

THE CHANGES ARE:

* THE BUILDINGS ORDINANCE OFFICE OF THE

BUILDING DEVELOPMENT DEPARTMENT WILL BE AMALGAMATED WITH THE LANDS DEPARTMENT TO FORM A NEW BUILDINGS AND LANDS DEPARTMENT

*

THE REMAINING ARCHITECTURAL OFFICE IN THE BUILDING DEVELOPMENT DEPARTMENT WILL BE TRANSFORMED INTO AN INDEPENDENT DEPARTMENT TO BE KNOWN AS THE ARCHITECTURAL SERVICES DEPARTMENT ;

* THE BUILDING DEVELOPMENT DEPARTMENT WILL

CEASE TO EXIST; AND

* THE URBAN AREA DEVELOPMENT ORGANISATION OF

THE GOVERNMENT SECRETARIAT'S LANDS AND WORKS BRANCH WILL BE AMALGAMATED WITH THE NEW TERRITORIES DEVELOPMENT DEPARTMENT TO FORM THE TERRITORY DEVELOPMENT DEPARTMENT.

THE WATER SUPPLIES DEPARTMENT AND ELECTRICAL AND MECHANICAL SERVICES DEPARTMENT WILL NOT BE AFFECTED BY THE RE-ORGANISATION.

/+THE RE-ORGANILATION