Housing Corporation
Sir, —I am unclear how the Housing Corporation became involved in lending money for a luxury hotel worth $6.5M when built two years ago (“The Press,” September 28). Perhaps you could clarify this? It is interesting that this is a possibility when the Housing Corporation is unable, or unwilling, to assist with
refinancing an original loan in the case of a separated person who wishes to purchase the family home. — Yours, etc., JILLIAN SCANDRETT. September 28, 1988.
[Mr B. F. Atkins, loans manager, Housing Corporation, replies: “Finance for the accommodation industry is provided from a Hotel Investment Account administered by the Housing Corporation for the Licensing Control Commission and guided by an Advisory Committee appointed to the Ministry of Justice. Income is derived under the Sale of Liquor Act (1962) and in no way diminishes the amount of money the corporation provides for its traditional housing assistance. In the last Budget, the corporation received increased money to help persons with a serious housing need and matrimonial breakdowns may meet this criteria. Your correspondent is welcome to discuss her financial needs with me.”]
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Press, 8 October 1988, Page 20
Word Count
184Housing Corporation Press, 8 October 1988, Page 20
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