BUILDING SUBCIDY SCHEME

Press, Volume LXXII, Issue 21904, 3 October 1936, Page 10

BUILDING SUBCIDY SCHEME

r—-- —♦" "".r; CLOSED AFTER TWO YEARS’ OPERATION After two years and two months ©f operation the house building subsidy scheme was closed on. Wednesday. Scheme No. 12. as it was called, was one of the measures for the relief of unemployment put into operation by the previous Government. At the closing date 1253 applications for subsidy of a value of £886.404 11s 6d had been approved in Christchurch, and subsidy amounting to £70,872 2s 8d had been. granted. . The number of applications declined was 43. On colsing day 87' applications scheme were received at Christchurch. The scheme was commenced during July, 1934, . the subsidy being payable on a basis of Is per square foot on all new and' totally enclosed floor , space, and not to exceed 8 per cent, of the contract price, with a maximum subsidy of £BO, In the case of residential flats the subsidy did < not exceed 6 ’per cent, of the total cost. The scheme applied to new dwelling houses or ‘'Other approved . buildings, and one of- its objects was to ensure the use of New Zealand materials throughout. A reduction of the amount Of. subsidy paid was made,on adcount ]of specified articles which were riot of New Zealand manufacture' and which were used in the building. An alteration was later made arid the scheme applied Only to new .dwellings of a capital cost not exceedirig £7OO. , .