Recycling Fund Launches New Support Measure - Allocating HK$100 Million for "One-off Rental Support Scheme"
(Hong Kong, 6 December 2019) The Advisory Committee on Recycling Fund (RFAC) announced the “One-off Rental Support Scheme” (ORSS) to assist recyclers in coping with business difficulties brought by the recent unfavourable social and economic environment.
The RFAC has earmarked around HK$100 million to initiate the ORSS, which is set to grant rental assistance to those recyclers who are unable to benefit from rental reduction concessions offered by the Government and other organisations, helping them surf the economic upheavals. The ORSS will provide a 6-month rental subsidy to tenants undergoing recycling operations in shops or sites on private land. Each recycler can receive up to 50% of rent or a maximum funding of HK$25,000 per month (whichever is less), and that the maximum funding limit is HK$150,000.
The ORSS is a timely initiative to address the needs of the recycling industry. It is open for applications starting today (6 December 2019). The period of rental assistance covers from 1 October 2019 to 31 March 2020 with covering period of 6 months. An applicant is required to submit the stamped tenancy agreement and associated documents for the RFAC’s vetting and approval. The RFAC will expedite the application processes and issue payment to eligible recyclers as soon as possible.
For more information about the ORSS as well as Recycling Fund, please visit the Fund website: www.recyclingfund.hk; contact the Secretariat at (852) 2788 5658 or email email@example.com.
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