Development Bureau welcomes business plan of the Urban Renewal Authority

The Development Bureau submitted a paper on the progress of the work of the Urban Renewal Authority (URA) in 2010-11 and its business plan for 2011-12 to the Legislative Council Panel on Development today (June 21). The Bureau acknowledges the work of the URA and expresses thanks for its active participation and full support during the review of the Urban Renewal Strategy (URS) in the past two years.

A Development Bureau spokesman said that the URA has made speedy response in developing implementation details for the new URS promulgated in February this year. The major initiatives include the launching of the "flat-for-flat" scheme which offers eligible owner-occupiers affected by redevelopment an alternative option other than cash compensation; taking on a new "facilitator role" in redevelopment; introducing a "demand-led" model in redevelopment; participating in the work of the District Urban Renewal Forum; and injecting $500 million to set up the Urban Renewal Trust Fund.

Under the new URS, the URA is tasked with adopting "Redevelopment" and "Rehabilitation" as its core businesses. In the coming year, the URA plans to take up one or two "demand-led" redevelopment projects and one or two "URA-facilitated" redevelopment projects in addition to continuing with redevelopment projects that it will itself initiate.

On the building rehabilitation front, the URA will set up the first Urban Renewal Resource Centre in 2011-12 to provide one-stop services, and will gradually expand its rehabilitation promotion and support programme to cover the whole territory.

"We trust that under the leadership of the URA Chairman, Mr Barry Cheung, and other board members, the URA will be able to build on its past success, and achieve a truly 'people-first, district-based and public participatory approach' in urban renewal under the new URS with a view to creating a quality living environment for the people of Hong Kong," the spokesman said.

Ends/Tuesday, June 21, 2011
Issued at HKT 19:56