HOUSING SCHEMES

Press, Volume LXXIII, Issue 22271, 9 December 1937, Page 8

HOUSING SCHEMES

EXTENDED FINANCIAL PROVISIONS INCOME LIMITATION TO BE REMOVED (From Our Parliamentary Reporter.) WELLINGTON, December 8. Extended financial provisions for housing schemes are contained in the State Advances Corporation Amendment Bill, which was introduced by Governor-General’s Message, in the House of Representatives just before the adjournment early this morning. The bill extends the definition of a 1 local authority to which the corporation may make loans for erecting workers’ dwellings. Another clause provides that bonds, stock or other securities issued by the ’ corporation and guaranteed by the 1 Government are to have the same : standing for investment purposes as : New Zealand Government securities. The most important provision removes the income limitations of per- | sons qualified to acquire dwellings by ■ sale or lease under the Housing Act. • Previously no person was qualified 1 whose income from normal sources ex- ■ ceeded £3OO a year with an additional £2O for every dependent person over ! two. The amendment makes it clear • that in future any person approved 'by the Board of Management ; of the corporation will be regarded as 1 competent to acquire a dwelling. ! The corporation is also empowered to ! erect on any land set aside for hous--1 ing purposes, shops, libraries, public i halls and public buildings which may be required to provide the necessary - social amenities in any particular dis- : trict. The Minister for Finance is to be given full authority to determine the conditions of lease for all houses erected under the Housing Act after March 31, 1937. Extensions are also to be granted in the making of loans to employers who propose to erect workers’ dwellings. Previously such loans were limited to 75 per cent, of the value of the security, but the bill proposes to extend this limit to 90 per cent. The bill was read a first time.