XN000022-1987-12-10 — Page 4

THURSDAY, DECEMBER 10, 1987

3

$2.76 BILLION FOR KOWLOON WALLED CITY CLEARANCE

*

KOWLOON WALLED

HAS APPROVED CITY,

CITY

THE FINANCE COMMITTEE OF THE LEGISLATIVE COUNCIL MORE THAN $2.76 BILLION FOR THE CLEARANCE OF THE KOWLOON WALLED

COMMITTEE ON THE THE CHAIRMAN OF THE SPECIAL

CLEARANCE, MR F.K. HU, SAID TODAY (THURSDAY).

COMPENSATION PACKAGE,

BY

ANNOUNCING DETAILS OF THE REHOUSING AND MR HU SAID THAT THIS MARKED THE CULMINATION OF 11 MONTHS OF WORK MEMBERS OF THE COMMITTEE AND THE BEGINNING OF THE IMPENDING CLEARANCE. AND THE UNIQUE CIRCUMSTANCES "WE CONSIDERED THAT IN VIEW OF HISTORICAL BACKGROUND OF THE WALLED CITY, SOMETHING AKIN TO THE POLICY

** BE USED. MR HU SAID. APPLIED TO REDEVELOPMENT CLEARANCES SHOULD

OWNER-OCCUPIERS

WHERE POSSIBLE, MR HU SAID OWNER-OCCUPIERS SHOULD BE ASSISTED, TO RE-ESTABLISH THEIR HOME OWNERSHIP STATUS AFTER THE CLEARANCE.

OVER-GENEROUS

PROPERTIES, ACQUIRE PROPERTIES SUBSTANTIAL AMOUNT

AND THEREFORE NOT

ANY

IN

OF

A

"HOWEVER, GIVEN THE LOW VALUES OF WALLED CITY FINANCIAL ASSISTANCE TO THEM ON THAT BASIS TO THE PRIVATE SECTOR WILL INEVITABLY INVOLVE

BE MONRY APPROPRIATE. HE SAID.

WHICH

T

MAY

CONSIDERED

INSTEAD, HE SAID, THE

THAT IT

SPECIAL COMMITTEE CONSIDERED WOULD BE A REASONABLE ARRANGEMENT IF ASSISTANCE WAS BASED ON THE OWNERSHIP SCHEME (HOS) PRICES WITH PRIORITY RIGHTS TO PURCHASE AN FLAT TO BE GIVEN TO THOSE OWNERS WHO WERE ELIGIBLE.

HOME

HOS

PAYMENT WOULD PROVIDE ADEQUATE MR HU SAID THAT THE RATES OF ASSISTANCE TO ALLOW MOST ELIGIBLE WALLED CITY RESIDENTS TO PURCHASE AN HOS FLAT, THE CALCULATIONS ARE:

QUALIFIED FLOOR AREA

$ PER SQUARE METRE

UP TO 23.44 SQUARE METRES

9.670

-

BETWEEN 23.45 60 SQUARE METRES OVER 60 SQUARE METRES

6,930

5.000

OWNERSHIP STATUS

MR HU POINTED OUT THAT

PROBLEMS

THE

DOCUMENTS ABSENCE OF LEASE

THE

AND VERIFICATION WITH

ESTABLISHMENT RESULTED IN PROPERTY OWNERSHIP CLAIMS, OWNERSHIP STATUS COULD ONLY BE

HAD

OF

ESTABLISHED

AND VERIFIED BY USING GUIDELINES PREPARED BY THE REGISTRAR GENERAL AND APPROVED BY THE SPECIAL COMMITTEE.

/OWNER-OCCUPIERS AND