Waiting list to stay at 3 years
January 24, 2013
The Housing Authority will adjust the rolling production programme for public rental housing to maintain the average waiting time for general Waiting List applicants at three years.
At its regular open meeting today, the authority endorsed its corporate plan for 2013-14, which sets out 40 key activities and 19 key performance indicators for the authority's work during the year.
The authority will identify suitable sites for development of both public rental flats and Home Ownership Scheme flats.
It also approved the 2012-13 revised budget and the 2013-14 proposed budget, and noted the financial forecasts for 2014-15 to 2016-17.
It said it will have sufficient financial resources to meet its recurrent expenditure and implement its current public housing construction and maintenance programmes.
The authority said its cash and investment balance is projected to decrease significantly in the coming years, mainly due to the projected price increase in construction costs and operating costs, as well as the additional construction costs for the new Home Ownership Scheme.
It will manage its finance in a prudent manner to ensure cost-effectiveness in achieving its policy objectives.