:
CONFIDENTIAL
173/1
НИК
COVED IN ZU
機密
7
9.60
радан
35.
09 OCT 1981
PSK OFF
For discussion
on 29th September 1981 NOLA
KALY
MOTAY
Porn XCC (81)170.
Copy No.
14. Copy
MEMORANDUM FOR EXECUTIVE COUNCIL
Mass Transit Railway (Land Resumption and Related Provisions) Ordinance (Chapter 276)
TRIANGULAR SITE, 170-188 DES VOEUX ROAD CENTRAL
Background
On the 8th September 1981 Members considered Information A Paper XCCI(81)41 (Annex A). The record of this Council's
discussion on the paper reads as follows :
B
2.
"The Council noted the contents of memorandum XCCI(81)41. In the event that the one out- standing owner did not reach agreement with the Mass Transit Railway Corporation, Members expressed the wish that the matter should be submitted to them for reconsider- ation before resumption of land was ordered."
On the 17th September 1981 five of the six owners of the private land within the Triangular site at 170-188 Des Voeux Road Central had entered into an agreement with the . Mass Transit Railway Corporation (MTRC) for the redevelopment of their land. However, no agreement was forthcoming from the owner of 170-174 Des Voeux Road (IL 1491 s.A R.P., IL 1491 S.B R.P. and IL 1491 s. C). This land is shown on the plan at Annex B.
Basis of Agreement Reached
3.
As explained in paragraph 2 of Memorandum XCCI (81)41 (Annexed) the Triangular site is approximately 800 square metres in area, of which 491.26 square metres are in private ownership. The remaining portion is Crown land. With the assistance of the Mass Transit Office an exercise was carried out to fix the share of all the owners (including the Corporation which will receive a private treaty grant of the Crown land) in the combined site. This was made on the basis of a site by site assessment at current market value excluding any merger potential or marriage value. Based on his share each owner will take a percentage of the
G.S. 166
CONFIDENTIAL
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