URA Board approves enhancements to special compensation measure for Chun Tin Street/Sung Chi Street Development Scheme

The Board of the Urban Renewal Authority (URA) today (Tuesday) approved two enhancements to the one-off special compensation measure announced earlier for the affected owners and tenants of the Chun Tin Street/Sung Chi Street Development Scheme (KC-008(A)) commenced on 6 May 2016.

The two enhancements are introduced after taking careful consideration of the unique circumstances of the KC-008(A) Development Scheme and the time that might involve in obtaining the approval from the Town Planning Board.  KC-008(A) covers the same buildings of KC-008 Development Project, which had not been authorised by the Secretary for Development and was withdrawn by the URA on 6 May 2016.

Under the two enhancements to the special compensation package, domestic and non-domestic owners accepting the market value of their properties offered by the URA can apply for an advance payment of their HPA and associated allowances to be assessed at the commencement date of the KC-008(A) project.

For domestic tenants residing in properties acquired by the URA, they will be offered an alternative choice of ex-gratia payments from the URA in additional to the option of continuing their current tenancy agreements at the existing rent. Due to prevailing policies, the URA could only provide to eligible tenants rehousing arrangement to public housing, after the approval of the project.

A spokesman for the URA said the two enhancements together with the special compensation measure are being offered because of the unique circumstances of this project, they would not set a precedent for other existing or future projects of the URA. The Authority had also introduced a separate one-off special rehabilitation package in May to relieve the safety concerns of the affected owners and tenants by providing them technical and financial assistance to carry out repair works to their units and buildings.

(ENDS)