ENG-1965 — Page 172

LAND AND HOUSING

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$350 million. Of this, $245 million will be provided by government loans and $105 million through self-financing. By the end of 1965 the Authority had spent over $203 million and its rent roll had reached $27 million. Sites for the Authority's estates are provided by the government at one-third the estimated market value. Rents are calculated on the basis of estimated working expenses and amortization of capital expenditure on buildings and land over 40 years at 5 per cent per annum compound interest. On this basis the Authority is required to balance its budget.

Housing built by the Authority consists of multi-storey blocks of self-contained flats in large estates with provision for shops, clinics, schools and kindergartens. Playgrounds and other amenities are provided and a high standard of planning and construction is maintained. Rents for the Authority's flats range from $48 a month for a four-person flat to $139 a month for a 14-person flat. Selection of tenants is carried out on the basis of housing need and a points system is operated.

In 1962 the Authority undertook, at the government's request, to manage all properties built under the government low-cost housing programme, which is designed to provide accommodation for people who earn less than $500 a month and who are living in insanitary or overcrowded conditions. As with the Authority's projects, these estates consist of multi-storey blocks of flats each containing a living-room, private balcony, cooking place and a water point. Whereas the Authority's flats have their own toilet and shower, however, low-cost, flats share toilet facilities between two flats. Management of these properties is carried out by the Authority on a non-profit basis, the costs being paid by the govern- ment and rents credited to government funds. Rents range from $35 a month for a four-person room to $80 for a 10-person room.

At the end of the year six low-cost housing estates, to provide accommodation for 67,261 people in 14,048 flats, were either fully completed or nearing completion. Work on two other estates had started. The original programme was to house 20,000 people a year, but this was considerably increased by a revised policy which laid down a new building programme for low-cost housing and resettlement. This programme provides for the construction of new accommodation for 170,000 adults over the next five years,