WORKERS' HOMES.

Dominion, Volume 1, Issue 20, 18 October 1907, Page 8

WORKERS' HOMES.

COROMANDEL STREET HOUSES. ' .THE FREEHOLD CONCESSION. ' This week's " Gazette "' notifies that fonl\', of tho workers' homes erected in Coromande!.. Street will be open for lease up to November ,i 7' next. No deposit is required with any ap- .. plication/but' every successful; applicant shall .before being admitted to possession, pay; tba ■ 'amount of the first month's rent and 10s. tor tho registration of the lease: provided thai' ■ the; successful applicant, may, with. the /per- . mission of the Laud Board, pay .the sum, of. £1 as part' of . the first month's rent,/and., undertake to complete tho (payment within thirty days, ■ together with: the 1 registration ■. fee. .Applicants will' be required to'appeal ■ ' before tno Land Board, 1 at the District Landi Office, Wellington, on Thursday, Novenibei 14, 1907, 'at J p.m., to answer'any questions ' or. produce such evidence as the Board'dfceuia' l . necessary.. ;Thoi ballot for the dwellings,, if'. there is more : than one approved. applicant for the samo dwelling, will be held at the.: District Lands Office, Wellington, on Tues- , dayj November 19, 1907, at 7.80. p.m., and -, possession'will bb given immediately oil tho completion bf the dwellings. "A lease may bo acquired of one of the residences (six-roqmeij) for fifty yeiirs, with, right •of renewals for .another, fifty years, or option 'of. acquiring the freehold m the following ~ ways:— : .v. , ... 'Mode-A.—By payment ■-in -cash...of>t-.tho»i capital valuo -of: the dwellir.g- ; (including tho. land) at v auv, time not less than: twenty-five " years from the dato of the lease. Rent'dui> •ing term of lease to bo at the' rate of's per cent, on'tho capital valuo'. ; ••; Modb B.—(a) .Bjf monthly;' payments 'over' a. period' of thirty:two years, at-the rate of v 3 per cent, per annum on.the, capital value; (b)'by monthly, payments over a.'period of forty-one years, at the rate of 6£ per cent, per annum on tho capital value.' • '• Mode C— By monthly payments of rent at tiio rate of 5 per cent, per • annum. on the • capital valuo of the dwelling, ancl taking out an insuranco policy on'the life''of the, applicant with the Government Insurance Cpiiimis-' sionor for the amount of the ; capital valuo o£ the .dwelling.;''