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Date:
Time:
25.11.86
2.15 to 5.00
Reporter:
JPM
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vacant and those obviously are the less viable and less attractive stalls, and 12-point something % in the Regional Council's jurisdiction. Hence the total revenue instead of $2.8 million if only occupied
stalls are rated which would be sensible, then instead of $2.8 million revenue the revenue would be proportionately less and it is likely to be only $2.4 million. Furthermore the $7.2 million as costs on the initial year of assessment in my view and with due respect Sir, from my experience in working with these matters, is on the conservative side, which means that it will be at least something like five years
before a net gain is achieved on the income.
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CHAIRMAN:
Peter -?
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DFS:
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MR POON:
Can the DFS enlighten us as to the difference in cost-effectiveness of rating of Urban Council's markets and those that are already rated like the fish market organisation, the vegetable market organisation and the Housing Authority?
I think the comparison is more one of
history than anything else. I mean, here we have a situation one
that I accept Mr Chairman, that we have got to grasp, we have got to
deal with it. Where you have a situation where the stall holder knows that he has rates to pay in addition to his rent before he moves in,
if that has been the tradition - fair enough, you haven't got a problem, but here we have got a situation where they haven't been rated for such a long time that there is inevitably going to be a major row if they are rated. But what is the point of rating them if all we are really doing is taking away the ability of the Urban Council to collect a margin of their rent, because that is really
what it is going to boil down to, but I do accept that we have got to grasp the particular nettle and we have got to deal with it, almost certainly by way of amending legislation.
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May I also Sir, offer an observation on
the difference between the Public Housing Estate markets and the
Urban Council markets? The Public Housing Estate market stalls are
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