25.11.86
2.15 to 5.00
Date:
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Reporter:
JPM
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attention of the Secretary for Municipal Services to the legal
point that Mr Chairman mentioned, but the important consideration in this exercise was the relative cost-effectiveness of the exercise
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very seriously and as a matter of very high priority considering the total policy on market rentals, which have a direct bearing on revenue and it is a question of comparing the relative cost-effective- ness of two exercises on enhancement of rental that led the Council to suggest that before the Council could take a decision on how best to enhance the revenue from market stalls, the rating issue be deferred for the moment, but I am very glad to report that the latest position is that the Urban Council has now taken a definite decision on a programme of implementation of revision of market stall rentals which would mean a very substantial increase in rental revenue with
effect from 1st January 1987.
The market leases if I could explain, are renewable every three years and the time for renewal was in fact 1986, since the last revision exercise in 1983, and a total of 31 out of the 56 Urban Council markets were examined in great detail by the Urban Services Department with a view to narrowing the gap between the market stall rentals currently charged and the current market rentals as assessed by the Commissioner, because as Sir you are aware, the purpose of building markets was (apart from providing a service and an outlet for retail and so on). to improve the environment and one of the overriding considerations
still to resite is in the Urban Council policy was to resite hawkers off-street into markets. In such exercises it is always necessary to charge concessionary rentals, at the start anyway, to enable the hawkers to come in without too much hardship and after the market stalls have settled down and have achieved a reasonable degree of profitability, then rentals will be revised upwards to 32 narrow the gap between the rentals actually charged and the current
market rentals as assessed.
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In this exercise, I should just mention that despite the legal position which is all very fair and true, since 1904 when the first Urban
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