STREET WIDENING.

Dominion, Volume 2, Issue 539, 21 June 1909, Page 7

STREET WIDENING.

OFFERED 'TO^-THi!'^ ■>;■;• i^otiatiohs.-of-;great; importance ! to' the: ;;^:.. a *y|^■■w. ; ■■:.PWuat..te^a^■.•BU(^sfu^:.issW.'■■'are.' : . : -.. at;present.-said to : be.-taking place between v,. tt^Fmanoe,Committee City. (Douncil ,: representatives, of ; the'owners of ,i wo Wock.ot.land.m;the heart of the city ' ■ ° ld Customhouse Street, Will£ ..Street, Street, and St. Hill Street, '■■'. the Heath Estate.' Tho block ,-; in .question the Pomona fruit ' ffi fW;P aßt *"■■' K Cooper's shop ;an4 down; to Old OustomhousoiStreet: again ■ ;■•.'.SeveralL propositions: in. r%ard to -this pro:::..pertyvhaTeibeen :made:'to.:the.City, Council' w m w U8 , tu T ■&&* tho Past years; ,vtat^staolea.have. invariably been enoouS : . r prevented tho'city: acquiring the '■' - "ihv /s^^K orast »P sufficienttSen-' ~, able .Willis; Street. ;to be widened. - : ■- v,- ; '•■; ; :-*™j: long,;ago; the /estate. ingestion " ; " ■ '«£ ■ b ?' *, local syndicate .but, since. ; ~,ae.;original j de4 : .the, syndicate has splifup : .i : .,cordingly^lt.\is-.now;.,undorstood' that the '- ■ t^^-^^^S; oii, the negotiations' ■:- ■-• ■ City . havo come .to"ari-'ar-- ; rangement: with both "parties, and have also -■ '': 'f^SM..» ot'details which enanie v,::them;to:offer:the:whb!e:block to the council;! W ■3, als ? stated.that the.agents;have:sub-ii ;;: :.mitted,-a:,detailed scheme:for the considera- ' : ~, tion. of the ■ City .Council, - which scheme after I ; haying beenreferred to the .Finance Com- ■-.-: mittee, has been: placed . iu' the bands' of. a' '- :,;Bub-committee,for further investigation. -'' ■ ■■'■'■■ appears; that tho^plan-'submitted is" in' ,:. ?**'■ direction'■. .'of:.' enabling 'the.'.council to ~ ■■ wden tho .portion of: Willis ! Street':from Old Customhouse:Streot:to: the Duko of Edin-.;burghocorner,-also to widen, portion of Man- . .. Mm-,Street .and to continue Victoria Street V mt - trough "''&. •Manners. ; • ; proposal:is-for the'council to , purchase the block of land mentioned: above ; ■ ■ at :f;.priee : : of; £147,106, which could 'all bo paid .m .City Corporation Debentures matur:;ing in.-twenty;years, and bearins interest at :, ; , the rate.of 4i;per.cent.' It that if . the .council: would purchase on; the terms . ;nftmed.and thenre-subdivided tho landon a scheme nlready in hand tho rental that would -b6::Teturned,.would pay :the interest on the . : -total :purchaso ; :money.;>.The agents moving , :in..the ma.tter ; :urge, as one.of tho principal ... iho offer,.that the council 'will .;.not have ,to.'find;ariy ; m<inoy..for..purchase, .; ".y as agreeableto accept the ~. debentures of twenty, years at 4J Mr cent ' ... :«i.payment,;for their--land,•'■whereas if the ■"■:" fo" 1101 ], took '°?^' ft ' loft '' str 'P *cy would . have to find' the cash to pay for the land ';\ Another.: point .'.which, is being im- ■.-..• presstd on ;tho council is'the opportunity for . ; carrying Victoria'.Street'throngli to Manners ... Street, thus giving, a new. 66ft. artery: in the ~ heart of. the - city when' the long; leases ex- . ,pire.y : The -rateable,;value of the.adjoining • .lands.'would necessarily bb enhanced, and, it . ,is Btated,'spme:of tho owners are hot.'averse ■:. to contributing towards the cost' of the ■'■: uttdertaking. ■■■'■■ ■..-■-