if the community has sufficient land and financial resources, the URA can provide subsidized housing without changing its role
Wei Zhicheng yesterday published a blog titled “The Cornerstone of Economic Responsibility and Stability before Urban Renewal and Sustainable Development". Some commentators believe that the role of the URA should be changed, and some urban renewal projects should be applied as public housing, and the government should Support. However, he pointed out that the “Urban Renewal Authority Ordinance" gave the URA the power and scope of work. The scope of the URA was quite broad. The purpose of setting up the URA was to clarify the need to make better use of the disrepaired areas in the built environment of Hong Kong. Land and vacate the land to meet various development needs.
No need for any change in roles
Therefore, he believes that as long as the community has sufficient land and financial resources and does not affect the statutory functions of the URA and the progress of the old district renewal work, the URA does not need to make any changes in its role.
Carry out various types of development projects related to the renewal of old districts, including the provision of subsidised housing development to meet the different needs of the community as a whole
He mentioned that the Administration can even study the feasibility of seeking alternatives for the “seven-year-old building subsidy" acquisition policy. If the building is built on a land that can be developed, the building will be replaced by a “flat-for-building" approach. Cash compensation for the “Seven-year Building Allowance". He said that in addition to significantly reducing the development cost of the project, the move could also provide suitable resettlement housing for affected residents.