Funds increased for pensioner housing scheme

Press, 14 April 1984, Page 13

Funds increased for pensioner housing scheme

PA Nelson A total of $4 million would be available this financial year to fund the owner-occupier housing scheme for the elderly, the Minister, of Housing, Mr Friedlander, has said. At the Municipal Association conference in Nelson, Mr Friedlander said additional funds for the scheme had come from the over-all allocation for housing. V The money had been made available because the demand for. cental housing ;for the- 1 elderly, was three ■times-greater.than available 'funds, he said. . i Funding had been maintained at the same level for Hhree years. Up to now the

demand for pensioner housing had been met reasonably comfortably, but that demand had expanded. The Minister said he had asked the Housing Corporation to meet local authorities to see if some of their demands in rental housing could be transferred to owner-occupier accommodation. The owner-occupier scheme provides bridging finance to local bodies for up to the full cost of building flats. The loan is for a year and is usually repaid when the units are sold. He said loans to $lO,OOO a unit were available to help individuals buy the units.