TNAG-1060-FCO40-1310-Mass-Transit-Railway-in-Hong-Kong-1981 — Page 199

མཎྜཋཱབྷཱུཏཡཾཨཐཱ

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(e)

(£)

AMEX B to Hemorandum XCC(75)45

2

Grants of easements over/under Crown land; the value shall be:

(i)

(ii)

(iii)

in the case of saleable land, the amount by which its value (assuming maximum economic development of the site) is reduced by reason of the grant of the easement?

in the case of sites planned for Government, institutional or community purposes,

estimated amount by which development expenditure is increased by reason of the grant of the ensement;

in the case of public roads, open space, the cost of making the land available for works (e.g. strepte alteration compensation payments, reimbursements to the Urban Council, etc.) and any re-instatement costs including standard overheads.

Temporary grants of Crown land: -

(i)

(ii)

in the case of saleable land or lettable land, the value of the land shall be the value of a short term tenancy for open storage or like purposes, or the cost of making the site available to the Corporation (e.g. clearance costs etc.) whichever is the higher;

in the case of land previously in use for public open space, roads or pavement, the value shall be the cost of making the site · available (e.6. streets alteration compensation, additional works elsewhere, or reprovisioning costs incurred by the Urban Council.)

Note 1

a

Where the value is expressed as the cost of making the site/share/ easement available, it shall include, in addition to direct costs, certain percentage of direct costs as overheads to cover administrative and professional work involved including any re-planning necessitated or previous work aborted by the grant.

Note 2

Valuations are to be made as at the date of grant.