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authorised by the Secretary for Development and was withdrawn by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)