At the meeting today (January 24), the Land and Building Advisory Committee (LBAC) was briefed on the results of the public consultation on the proposal to lower the compulsory land sale application threshold under the Land (Compulsory Sale for Redevelopment) Ordinance. The Committee also discussed the Administration's proposed way forward to designate two classes of lots to be eligible for a lower application threshold -i.e. (i) a lot with "all units but one" acquired; or (ii) a lot with all building(s) aged 40 or above.
Members supported the policy direction to lower the compulsory land sale application threshold for certain classes of lots as an initiative to facilitate the land assembly process for private redevelopment.
The Committee also noted the latest progress of the exercise to align the definitions of development control parameters by the Buildings Department, Lands Department and Planning Department.
Ends/Thursday, January 24, 2008
Issued at HKT 19:52
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