WOOLSTON CUT

Press, Volume CX, Issue 32385, 26 August 1970, Page 14

WOOLSTON CUT

Sanction For Loan

Sanction for the Christchurch Drainage Board to raise a loan of 8135,000 for the purchase of properties to enable the deviation of the Heathcote River through the proposed Woolston Cut was received by the board last evening. Mr G. A. G. Connal said that it would be February before the loan could floated, and it would b’e towards the end of March before the board had the money. Therefore he hoped that those property - owners affected would not “rush" the board to buy their homes. The board had already purchased seven properties by negotiations, and had to acquire another 2L

“It is pleasing to know that we are now able to raise the loan, because it means that we will be able to purchase properties when the money is in hand,” Mr Connal said. “We will be able to give property-owners the money for purchasing their properties, and allow them to remain as tenants, should they desire it,” Mr Connal said. Mr C. H. Russell said that this would give the propertyowners time to look round for alternative homes. It would be four to five years before the cut would be started.

In reply to a question, the chairman (Mr A J. McTainsh) said that the finance committeee would look into compensation issues and other matters and report to the next meeting of the board.