TNAG-1641-FCO40-2288-Budget-of-Hong-Kong-1987 — Page 49

and for flats built under the Home Ownership Scheme (30).

93.

It is the Government's policy that

policy that the public housing

programme should achieve а level of production of at least 40 000 flats a year for rental and sale. This target comprises

the Housing Authority's rental flats and flats for sale under

the Home Ownership Scheme,

Scheme, flats sold under the Private Sector

(30)

1986-87 Revised

1987-88

Estimates

Draft Estimates

($mn)

($mn)

(1) Rental Housing Programme (i):

Drawings from Development

Loan Fund (ii)

1,200

1,200

Housing Authority's own

resources (iii)

1,150

1,269

Asian Development Bank loans

1

Total (1)

2,351

2,469

(2)

Home Ownership Scheme (iv)

790

800

Total (1) + (2)

3,141

3,269

(3)

Temporary Housing Areas

87

85

I

Total (1) + (2) + (3)

3,228

3,354

Notes

(i)

Not including the Housing Society.

(ii)

For housing and ancillary facilities, but nothing for land, because land is granted to the Housing Authority at nil premium, although the full market value of the land is entered into the Authority's accounts as a Government contribution.

(iii) Difference between rent income and running expenses plus premia

from commercial lettings.

(iv)

These figures exclude expenditure on the Middle Income Housing Programme (now closed) and the Private Sector Participation Scheme. For the Home Ownership Scheme itself, the expenditure figures include $66 million and $57 million for 1986-87 and 1987-88 respectively being drawings by the Housing Authority from the Development Loan Fund for commercial facilities, but exclude the value of land in respect of domestic elements.

28

/Participation