XN000022-1993-04-28 — Page 22

(C) NON-DOMESTIC EQUITY

10

WEDNESDAY, APRIL 28. 1993

LAND FOR PROFITABLE NON-DOMESTIC ACTIVITIES SUCH AS CAR PARKS AND COMMERCIAL FACILITIES IN RENTAL AND HOS DEVELOPMENTS IS MADE AVAILABLE AT NO COST TO THE HOUSING AUTHORITY. TO REFLECT THE VALUE OF THIS SUBSTANTIAL SUBSIDY, THE LAND VALUE FOR SUCH FACILITIES IS SHOWN IN THE AUTHORITY'S ACCOUNTS AS NON-DOMESTIC EQUITY. ALL THAT THE GOVERNMENT RECEIVES IN RETURN IS HALF OF THE REVENUES COLLECTED BY THE AUTHORITY FOR THE NON-DOMESTIC ACTIVITIES, AND THIS ONLY AFTER ALL THE AUTHORITY'S FULL OPERATING EXPENSES HAVE BEEN DEDUCTED.

LAND SUPPLY

3.

IN ADDITION то HAVING MADE A SUBSTANTIAL CAPITAL CONTRIBUTION TO THE AUTHORITY, THE GOVERNMENT IS FURTHER COMMITTED TO PROVIDING ADEQUATE LAND FOR PUBLIC HOUSING PURPOSES. THIS IS NOT MERELY A QUESTION OF EARMARKING UNFORMED SITES. THE GOVERNMENT IS FURTHER COMMITTED TO CLEARING AND FORMING THE VAST MAJORITY OF THESE SITES, INCLUDING THE PROVISION OF FULL SUPPORTING INFRASTRUCTURE, SUCH INFRASTRUCTURE DOES NOT MEAN SIMPLY THE PROVISION OF MINOR PUBLIC ROADS AND DRAINS WITHIN THE ACTUAL HOUSING SITES THEMSELVES. THERE ARE OTHER FAR LARGER AND LESS OBVIOUS COSTS INVOLVED. DUE REGARD HAS ALSO BEEN PAID BY THE GOVERNMENT TO OTHER KEY REQUIREMENTS SUCH

AS THE NERD FOR MAJOR OFF-SITE ACCESS ROADS AND THE ADEQUACY OF PUBLIC TRANSPORT SERVICES, THE LEVELS OF PROVISION OF SCHOOLS, CLINICS AND OTHER WELFARE FACILITIES, BOTH AT THE LOCAL DISTRICT AND REGIONAL LEVELS. THE LIST IS LONG AND INCLUDES ALL OF THOSE PUBLIC SERVICES THAT THE COMMUNITY PERHAPS TAKES FOR GRANTED. BUT THE PROVISION OF WHICH REQUIRES THE GOVERNMENT TO SET ASIDE A CONSIDERABLE PROPORTION OF ITS RESOURCES. DESPITE THE MAJOR SUBSIDIES INVOLVED, AS I HAVE MENTIONED EARLIER, LAND IS PROVIDED FREE TO THE AUTHORITY IN THE CASE OF PUBLIC RENTAL HOUSING, AND AT ONLY 35 PER CENT OF THE BUILDING COST IN THE CASE OF HOS DEVELOPMENTS.

4.

TURNING TO THE ACTUAL SUPPLY OF LAND, I WILL, NOT BORE MEMBERS WITH A FULL REPETITION OF WHAT I SAID LESS THAN A MONTH AGO ON THE SUBJECT OF LAND SUPPLY IN MY RESPONSE TO THE BUDGET DEBATE. SUFFICE IT TO SAY THAT WE HAVE HAD A VERY GOOD RECORD IN PROVIDING SUFFICIENT SITES TO MEET THE LONG TERM HOUSING STRATEGY PRODUCTION TARGETS AND WE ARE CONFIDENT THAT WE WILL CONTINUE TO BE ABLE TO DO 50. FROM TIME TO TIME THERE MAY BE TEMPORARY SHORTFALLS DUE TO REVISED PRODUCTION TARGETS BUT THEY ARE TO BE EXPECTED IN ANY DYNAMIC SITUATION. WE HAVE A WELL TESTED MECHANISM TO IDENTIFY ADDITIONAL SITES TO MEET THE NEW DEMAND IN THE REQUIRED TIMEFRAME AS THE PROGRAMME

ROLLED FORWARD. AND IN FACT, IN THE BUDGET DEBATE, I INFORMED MEMBERS THAT THE SITES TO COVER THE 50-HECTARE REQUIREMENT OF THE HOUSING AUTHORITY WHICH IS ONCE AGAIN BEEN REFERRED TO TODAY HAVE BEEN IDENTIFIED.

ACHIEVEMENTS