Responses by URA to the 2021-22 Budget
In response to the announcement made by the Financial Secretary in the 2021-22 Budget today (24 February 2021) on the Government’s funding of $1 billion to launch a subsidy scheme to assist old buildings to carry out drainage repair or enhancement works, a spokesperson for the Urban Renewal Authority (URA) said the URA supports the Government’s initiative to promote owners to conduct building rehabilitation works to improve the condition of buildings and the living conditions.
The URA will be tasked to administer the subsidy scheme, under which, financial assistance will be provided to needy owners to conduct necessary drainage inspection and rehabilitation works in compliance with the requirements under the Buildings Ordinance. The URA will also provide technical support to facilitate the organisation of the repair and works.
The URA will work with relevant Government departments in formulating the implementation framework and subsidy mechanism of the scheme for deliberation and approval at the URA Board.
Meanwhile, in response to the Government’s measure to provide rent relief to its tenants, the URA has planned to extend its rent relief measures for the domestic and commercial tenants in its properties for another six months, starting from 1 April 2021 till the end of September 2021. The URA’s rent relief measure, since its introduction, has been helping its tenants to face the economic challenges posed by the epidemic and support employment over difficult times.
Implementation details and eligibility of the rent relief measure will be devised for deliberation and approval at the URA Board.