SYNOPSIS
6.4.1.3 The agricultural land to be acquired from the landowners and surrendered to Government in exchange for land capable of being developed for urban and rural purposes must first be acquired by what we will describe as the development company. This company will acquire the land at a fair value under terms of contracts with the landowners which will be conditional upon sufficient owners being prepared to assign their land to the development company either for cash or for shares or a combination of cash and shares at a fair price, to enable the scheme to be viable. Those landowners who opt for cash will have no further interest in the scheme, but those who choose to take shares will obtain a continuing interest in the development.
It is likely that the landowners will not take a direct interest in the development company, but will hold their interests through an intermediate entity (a Landowners Foundation) which will also provide representation for the landowners on the board of the Development Company, i.e. the Community Development Corporation.
6.4.1.4 At this stage, as previously stated, it is premature to attempt to set out in detail particulars of the legal framework within which the scheme will be organised. It will be necessary to create an inter-related corporate structure for land acquisition, maintenance of the villages, cooperative management of agriculture, management of infrastructure, and selling and/or leasing of those parts of the development which are to be made available to new residents, while providing fair treatment for all persons concerned in the scheme and complying with all relevant legislation and any special requirements of the Government. Concrete proposals for the way in which the above arrangements are made will be finalized once negotiations with all interested parties have been concluded.
6.5 Area Phasing
6.5.1
As described on Page 15, land will be assembled in two separate phases: Phase I (urban) and Phase II (rural). Whereas the pursuit of urban community development goals is quite straightforward, the pursuit of agricultural community proposals will be subject to Government project-related and regional planning decisions. In the meantime, existing and proposed agricultural uses will be encouraged by the STDMC within the Phase II rural areas. This coupled with local landowner and Government support and continued rural planning efforts should ensure that San Tin's Mixed Agricultural District is ready for development once a positive cash flow from Phase I has been initiated. (See Master Plan Volume 2, Chapters 7 and 9 for further details.)
SAN TIN
General Agriculture District
9
No comments yet.
Private notes are available after approval.