TNAG-1060-FCO40-1310-Mass-Transit-Railway-in-Hong-Kong-1981 — Page 78

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ANNEX TO XCCI(81)41

A

B

For discussion

on 14th July 1981

Background

XCC(81) 84 Copy No

MEMORANDUM FOR EXECUTIVE COUNCIL

MASS TRANSIT RAILWAY ISLAND LINE

TRIANGULAR SITE, 170-188 DES VOEUX ROAD CENTRAL

On 16th December 1980, having considered memorandum XCC(80)137, at Annex A, members advised and the Governor ordered, inter alia, that subject to the acceptance by the Finance Committee of the Legislative Council of the financial : implications involved:

(i) the proposal to construct an Island

(ii)

Line, as set out in paragraph 25 to 29, should be accepted in principle;

the property development implications of (i) above, together with the revision of the capital structure of the Corporation as suggested in

paragraphs 29 to 38 should be acceptable.

Members confirmed their acceptance of the property development implications of the Island Line at a subsequent meeting on the 23rd December 1980. Paragraph 32 of memorandum XCC (80) 137 makes it clear that it was the intention that, wherever possible, the owners of properties affected by the Island Line would be given the opportunity to develop their

properties in conjunction with the Mass Transit Railway Corporation "(MTRC)

Paragraph 34 and Annex C to the memorandum identify the sites, either on Crown land or composed partly of Crown land and partly of land in private ownership, which would have to be acquired by Government and then leased to the Corporation. The railway content of these sites was said to be so significant that only the Corporation could be responsible for their development if interface problemas between building the railway and development of the sites were to be avoided. Paragraph 34 also explained that it was proposed that, as an integral part of the construction of ¶ the Island Line, the Mass Transit Railway Corporation would undertake development of these sites, in partnership with private companies of its own choosing, and the profits derived there from would be applied to the financing of the construction of the Railway.

2.

SU

When the triangular site at 170-188 Des Voeux Road Central (plan attached as Annex B), which is required for the

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