Alan Leong
The government has confirmed reports that the body managing the West Kowloon arts hub is considering a plan to acquire commercial development rights within the district as a way to boost revenue.
The the West Kowloon Cultural District Authority (WKCDA) will have to pay land premiums for the rights, but stands to gain billions of dollars in revenue from commercial developments that ordinary would go to the government.
The Home Affairs Bureau said the plan will be forwarded to legislators after it is finalised.
The WKCDA has been struggling with escalating construction costs, with its chairman, Chief Secretary Carrie Lam, admitting that the HK$21.6 billion allocated to the Authority by the Legislative Council is inadequate.
Civic Party leader Alan Leong urged the government to disclose details of the plan as soon as possible, though he is “not opposed in principle” to the idea.
He said “the WKCD certainly needs some financial resources to ensure that the original plan to put Hong Kong back as a bright and shining spot on the world’s culture and art map would be carried through, and to see to its implementation, so I, for one, am certainly prepared to listen to the details and particulars that are being discussed among different government departments and the WKCDA.”
A board member of the authority, Chris Ip, agrees the plan could increase income. But he stressed that even the WKCDA should retain management rights of any commercial developments in the hub.
The the West Kowloon Cultural District Authority (WKCDA) will have to pay land premiums for the rights, but stands to gain billions of dollars in revenue from commercial developments that ordinary would go to the government.
The Home Affairs Bureau said the plan will be forwarded to legislators after it is finalised.
The WKCDA has been struggling with escalating construction costs, with its chairman, Chief Secretary Carrie Lam, admitting that the HK$21.6 billion allocated to the Authority by the Legislative Council is inadequate.
Civic Party leader Alan Leong urged the government to disclose details of the plan as soon as possible, though he is “not opposed in principle” to the idea.
He said “the WKCD certainly needs some financial resources to ensure that the original plan to put Hong Kong back as a bright and shining spot on the world’s culture and art map would be carried through, and to see to its implementation, so I, for one, am certainly prepared to listen to the details and particulars that are being discussed among different government departments and the WKCDA.”
A board member of the authority, Chris Ip, agrees the plan could increase income. But he stressed that even the WKCDA should retain management rights of any commercial developments in the hub.
http://news.rthk.hk/rthk/en/component/k2/1215531-20151005.htm
